Washington, DC – Today, in reaction to the Minneapolis City Council’s passage of a local responsible banking ordinance, National Community Reinvestment Coalition (NCRC) President and CEO John Taylor made the following statement:
“We applaud the passage of a local responsible banking ordinance in Minneapolis. We congratulate NCRC member organizations Jewish Community Action and Northside Community Reinvestment Coalition, NCRC board member and Minnesota Asset Building Coalition Coordinator Dave Snyder, and everyone who played a role in getting this ordinance passed. Local responsible banking ordinances empower local governments to hold banks accountable and help to ensure that banks are investing in our communities in a responsible way. NCRC is proud to support the efforts of communities and our members across the county to get these ordinances passed at a local level.”
In addition to the responsible banking ordinance in Minneapolis, as part of its RFP process, Hennepin County in Minnesota is requiring banks to provide data on their community activities.
The passage of the Minneapolis ordinance follows the passage of a local responsible ordinance in Boston in September.
NCRC has been a leader in organizing local advocates to advance responsible banking ordinances. In July of 2012, NCRC and NCRC member organization the Association for Neighborhood and Housing Development (ANHD) released a set of local responsible banking resources. In 2012, NCRC also released an updated version of its model city ordinance, which was first made available in 2010.
About the National Community Reinvestment Coalition (NCRC):
The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.