HomeMy WebLinkAbout1986-594-10.13.1986 RESOLUTION NO. 1986-594
A RESOLUTION SUPPORTING THE EFFORTS OF CITIZENS
FOR COMMUNITY IMPROVEMENT TO ENSURE THAT TERMS
d v AND CONDITIONS OF THE COMMUNITY REINVESTMENT ACT
m ARE BEING ADHERED TO BY LOCAL FINANCIAL INSTITUTIONS.
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E F WHEREAS, the United States Congress has passed the Community
Reinvestment Act empowering federal agencies to monitor local
financi al institutions with respect to meeting the credit needs of
` , persons living in low and moderate-income neighborhoods, and
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s r. WHEREAS, pursuant to the Act, the federal government has
s established specific federal regulatory agencies to monitor the
• `' t banking operations of local financi al institutions, and
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11governmental agencies have not been
� c WHEREAS, local g granted the
rt, m R, -,jurisdiction to monitor the lending practices of the local financial
L r,; institutions, and
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"' m WHEREAS, the City of Waterloo is aware of the concerns expressed
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rr = Tby the agency locally known as Citizens for Community Improvement
(CCI) with respect to the lending practices of the local financial
f-- institutions.
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a NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
`Waterloo, Iowa, hereby supports the efforts of CCI, or other local
agencies, in their efforts to ensure that the terms and conditions of
the Community Reinvestment Act are being adhered to by the local
financi al institutions.
Passed and adopted this 13th day of October, 1986.
ernard L. Kin ley, ayor
ATTEST:
L r . Burger,;, ity CTerk7Auditor
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