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Article: Philadelphia City Council to Mull Bill Requiring Linked Deposits for Banks.(Originated from Philadelphia Daily News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 17, 1995
- Author:
CopyrightCOPYRIGHT 1995 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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July 17--Are Philadelphia's banks doing enough in poor neighborhoods? Are they writing enough loans for small businesses, mortgages and home improvements in low-income communities?
Are their services, especially automated teller machines, as readily available as in better-off neighborhoods?
Social activists inside and outside City Hall are raising those questions -- and suggesting that local government can and should use the public purse to influence the answers.
A bill pending before City Council would require Philadelphia to adopt a system of "linked deposits."
The system, in effect in Boston, Pittsburgh and other cities, would require ...