OneUnited Bank has been criticized as having a poor record of lending to people in some low-income areas. It also paid for a luxurious lifestyle for its chairman despite posting huge losses. OneUnited Bank, the financial institution at the center of a congressional ethics investigation involving Rep. Maxine Waters, paid for a luxurious lifestyle for its chairman, including a Porsche and a house on Pacific Coast Highway in Santa Monica despite his having a record that includes arrests and allegations of drug use.