A measure to reduce foreclosures
The City Council just passed a measure I authored to leverage the City’s role as a banking customer to incentivize banks to reduce foreclosures – check out yesterday’s story from KTVU.
My quote, “We buy tens of millions of CDs and other instruments every year. So the idea is how do we use that power to create incentives for banks to help our residents who are struggling with their mortgages.”
Sam
Hi – just a little note to say thanks for this article. Very helpful.