Jon Stein at Community Legal Services has just filed a complaint with the federal Office of the Controller of the Currency to stop closing of five Wachovia branches in Eastern North Philadelphia.
These branches serve predominently African-American and Hispanic customers. Jon says the other banks in the area are smaller and don't provide comparable services.
Why is this matter on this blog? Because Jon, ever savvy, points out that Wachovia has a no-bid contract right now for the deposits of the entire City employee payroll.
But the law has changed, and now that contract will be bid.
Which means that where a bank -- which does city business -- has its branches could become an issue for the next administration. If they chose to award contracts with an eye to such matters.
Very, very interesting.
Comments (5)
I assume the contract's being rebid because of the Nutter's legislation that was approved by voters during the election in Nov of last year?
Posted by Dave | November 16, 2006 5:50 PM
No. It was a Goode bill.
Posted by Anonymous | November 17, 2006 9:42 AM
Which one? I remember Goode wanted Wachovia to report on how many loans they've given to minorities. Did he specifically have their city contract rebid? Or was it a more general contract bill?
Posted by Dave | November 17, 2006 10:43 AM
Yes, the payroll account was put out to bid through Bill# 060387 signed into law in June.
Posted by Anonymous | November 17, 2006 11:46 AM
Thanks.
Posted by Dave | November 17, 2006 12:11 PM