Aldermen endorsed a measure Monday that would allow the city to expand the number of banks authorized to hold its cash — even as city officials vowed to keep pressuring financial institutions to do a better job lending to Black and Latino Chicagoans.
Led by Ald. Harry Osterman (48th Ward), the chair of the City Council’s Housing Committee, and Treasurer Melissa Conyears-Ervin, city officials plan to form a task force and a working group to draft new requirements for banks to meet if they want to keep the city’s lucrative business.
Author(s): Heather Cherone
Publication Date: 22 March 2021
Publication Site: WTTW News