Bank Loan

Banks competing this year for a contract for the city of St. Paul’s business will not only be judged on their fees and services, but also on how they treat minorities and the community overall. The St. Paul City Council on Wednesday unanimously voted to establish a citizen-led Responsible Banking Committee. In 2014 the city approved an addendum to its banking ordinance that factors in banks’ treatment of issues including foreclosures and racial disparities in home lending in picking a financial institution to handle the city’s money.