From Stella Adams, executive director of the North Carolina Fair Housing Center, a statewide nonprofit based in Durham and dedicated to the creation of equal housing opportunity.

As an African American devoted to increasing access to capital and credit to underserved communities of color, I want to respond to Wachovia's announcement regarding the role of its predecessor banks in slavery.

Wachovia conducted an exhaustive and sobering study of its history. Wachovia not only looked at its predecessor institutions that owned slaves, but also at those institutions that profited indirectly from slavery. We must not forget that America, North and South, profited and prospered directly or indirectly from slavery. According to its press release, two banks acquired by Wachovia the Bank of Charleston and the Georgia Railroad and Banking Co., directly owned slaves. A third bank, the Bank of North America (PA), was capitalized by slave traders and human traffickers.

According to the study, 529 slaves were held as collateral on 24 mortgage loans held by the Bank of Charleston. The study lists some of them by name. Julia, Mary and Sam were sold for $45. Celia, Maria, Susan and Eliza sold for $1,000. "Certain Negroes in Texas known as Lavinia and her family" were used to secure a mortgage on a plantation on Hilton Head Island.

The record shows that at least four slaves died during the construction of the railroad between Augusta and Atlanta. But don't fret for Georgia Railroad and Banking Co., "inasmuch as the negroes have increased in value as they were owned by the company, the value of the four that have died should not be carried to profit & loss."

CEO Ken Thompson apologized and has offered "to partner with community organizations that are experts in furthering awareness and education of African American history, in order to help preserve the African American experience and incorporate this important piece of our country's history in educational forums."

"We cannot change the past, and we can't make up for the wrongs of slavery," said Thompson. "But we can learn from our past, and begin a stronger dialogue about slavery and the experience of African Americans in our country."

While I appreciate the effort, Wachovia can and must do more. Wachovia and lenders with similar histories must reinvest in the communities and the people who have been wronged. They must invest in community economic development projects, support affordable housing and financial literacy. They must recognize that racial wealth disparities are part of their history.

Wachovia must take the lead in leveling the playing field for descendants of its former slaves. Wachovia can invest in black businesses, capitalize a venture capital fund for the development of new technologies at N.C. A&T University and other historically black colleges and universities, and make safe, affordable loans available throughout the bank's footprint.

Dialogue is important. The past cannot be rewritten, but the future is a blank page. Let's write a future we can all be proud of.