City of Philadelphia - File #: 070601

• File #: 070601
• Version: 0
• Type: Resolution
• Status: ADOPTED
• File created: 6/14/2007
• In control: Committee on Commerce & Economic Development
• Title: Authorizing the Committee on Commerce and Economic Development to hold hearings on the study of lending disparities recently released by the City Treasurer.
• Sponsors: Councilmember Goode, Councilmember Greenlee, Councilmember Rizzo, Council President Verna, Councilmember Reynolds Brown, Councilmember DiCicco, Councilmember Ramos, Councilmember Tasco, Councilmember Kelly, Councilmember Savage, Councilmember Krajewski, Councilmember Blackwell, Councilmember Campbell, Councilmember Miller, Councilmember O'Neill, Councilmember Kenney, Councilmember Clarke

Date	Ver.	Action By	Action	Result	Tally
9/27/2007	0	Committee on Commerce & Economic Development	HEARING NOTICES SENT
9/27/2007	0	Committee on Commerce & Economic Development	HEARING HELD
9/27/2007	0	Committee on Commerce & Economic Development	RECESSED
6/14/2007	0	CITY COUNCIL	ADOPTED & REFERRED
6/14/2007	0	CITY COUNCIL	READ
6/14/2007	0	CITY COUNCIL	Introduced	Pass

Title

Authorizing the Committee on Commerce and Economic Development to hold hearings on the study of lending disparities recently released by the City Treasurer.

Body

WHEREAS, The lending practices of financial institutions have a measurable impact on the City's tax base, quality of life and overall economic viability and competitiveness; and

WHEREAS, Economic viability and competitiveness comes from strengthening, and providing opportunities within, all areas of the City; and

WHEREAS, In December of 2005, City Council unanimously passed a resolution calling on the Office of the City Treasurer to commission an annual study of lending disparities by City depositories and to produce a report deliverable to the Mayor and the City Council.  The annual report was to  include a comprehensive analysis of home lending, small business lending, and branching patterns as well as the measurement of the community reinvestment and fair lending performance of banks receiving City deposits; now therefore

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Committee on Commerce and Economic Development is hereby authorized to hold hearings on the study of lending disparities recently released by the City Treasurer.

End