Cuts To City Key ID Program Proposed To Help Close City’s $1.2 Billion Budget Gap – Block Club Chicago

“Those numbers are inexcusable and they need to be corrected,” City Treasurer Melissa Conyears-Ervin said, responding to a report that found large racial disparities in where banks lend money. But, she continued, it will be difficult to exclude a bank as large as Chase that is “embedded within the city of Chicago’s municipal depository system.” “You’re saying we’re between a rock and a hard place. They can slap us and we still have to pay them to slap us,” said Ald. David Moore (17th).
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Ex Illini
5 years ago

Forcing banks to lend to unqualified borrowers is a disaster. It has been done before and it doesn’t work. The reality is, everybody doesn’t get to own a home. Work hard, save and maybe someday it can happen for you, but no promises. I know that’s hard to hear for some people, but the truth does hurt sometimes.

Mike
5 years ago

The banks did a lot of them a favor by not lending them money.

How many loans are upside down?

How many with loans have homes that depreciated?

How many with loans have homes that appreciated slower than a turtle?

The solution is more loans to avoid disinvestment because people with cash will not invest there?

How many have a home loan, car loan, student loan, and payday loan, and/or title loan and now cannot pay their bills?

Loans are more dangerous than COVID-19 to people with little money.

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