The City Treasurer’s Office (“CTO”) is seeking proposals from firms with experience providing economic consulting services or analysis (“Applicant”) to produce an annual study of comprehensive lending activity and lending disparities by City depositories (“Study”). A City depository is a bank or financial institution eligible and approved to hold City deposits. Financial institutions conducting business in Philadelphia have the potential to positively impact the City’s growth and provide opportunity for residents. The City of Philadelphia (“City”) is committed to ensuring that the institutions selected as authorized depositories provide financial products and services in a fair and unbiased manner to the citizens of Philadelphia. While banks are regulated by federal and state agencies, and the City does not regulate bank lending activity, this study provides policymakers and other stakeholders with an opportunity to examine the lending practices and community investments of approved depositories relative to broader activity in Philadelphia and peer jurisdictions.
