Resolution 000156

..Title Calling upon the Office of the Director of Finance to conduct a survey, publish and disseminate a consumer guide on bank fees of the city depository banks. ..Body WHEREAS, Banks and credit unions provide many important services to the citizens of this City; and WHEREAS, Many different fees and charges are assessed for these various banking services, ranging from checking accounts, ATM transactions and certified checks; and WHEREAS, The City of Philadelphia, through the Office of the Finance Director, publishes an annual report on the bank mortgage and home improvement lending record of each city depository bank in order to determine whether these banks are serving the needs of the citizens as well as to inform the public of these private lending practices; and WHEREAS, The State of New Jersey, through the initiative of Governor Whitman, has prepared and released the first-ever study of bank fees in New Jersey providing an on-line consumer guide that details a variety of fees for services at banks which do business in the state; and WHEREAS, The City should compile, publish and disseminate (both in hard copy form and on-line) similar information on city depository banks so as to provide the citizens with helpful consumer information when evaluating banking options; now therefore RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Office of the Director of Finance is called upon to conduct a survey, publish and disseminate a consumer guide on bank fees of the city depository banks.