Request $95K Return to State from Chicago Bank
CHICAGO — Illinois Treasurer Michael Frerichs today cut off investments to two Illinois banks for failing to meet Community Reinvestment Act (CRA) requirements. The CRA encourages banks and lending institutions to meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations. “We want to ensure the banks and financial institutions doing business with the state are reinvesting in the communities they serve,” Frerichs said. “Our office provides tools to help people make sound investments in banks and financial…