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6-7.1   Purpose.
   The purpose of this Section is to ensure Boston residents who are disabled veterans or handicapped have access to public and private facilities and services; to provide regulations for the designation, enforcement and penalty for misuse of parking areas designated as reserved for disabled veterans or handicapped persons; and to establish a temporary identification system for use of parking areas designated as reserved for disabled veterans or handicapped persons.
(Ord. 1983 c. 20; CBC 1985 6-7.1)
6-7.2   Scope.
   (A)   This Section shall apply to any person or body that has lawful control of a public or private way or enclosed property used as off-street parking areas for businesses, shopping malls, theaters, auditoriums, sporting or recreational facilities, cultural centers, residential dwellings or for any other place where the public has a right of access as invitees or licensees.
   (B)   Such persons or bodies shall designate parking areas as reserved for motor vehicles owned and operated by a disabled veteran or a handicapped person whose vehicle bears the HP/V distinguishing license plate authorized by M.G.L. Chapter 90, Section 2 or the temporary identification authorized by the provisions of this Section.
   (C)   Such persons or bodies shall assure that said spaces conform with the size, width and location requirements as set forth in M.G.L. Chapter 40, Section 21, Clause 13(a).
   (D)   Such persons or bodies shall display signs which state that HP/V parking regulations shall be enforced.
   (E)   Parking spaces designated as reserved under the provisions of this Section shall be identified by the use of above-grade signs with white lettering against a blue background and shall bear the words “HP/V PARKING ONLY: Special Identification Required. Unauthorized vehicles May be Ticketed or Removed at Owner’s Expense”. Complaints shall be referred to the Commission on the Handicapped for enforcement.
   (F)   The Department of Traffic and Parking may deny or revoke licenses granted pursuant to M.G.L. Chapter 148, Section 56 to licensees of open-air parking spaces not in compliance with the provisions of this Section.
   (G)   The Department of Traffic and Parking shall be authorized to remove or select an independent contractor to remove motor vehicles obstructing any curb ramp designated for use by disabled veterans or handicapped persons or obstructing any parking spaces reserved for a motor vehicle owned and operated by a disabled veteran or handicapped persons whose vehicle bears the distinguishing license plate authorized by M.G.L. Chapter 90, Section 2 or who is in possession of the temporary identification authorized by the provisions of this Section.
   (H)   There shall be two forms of motor vehicle identification for the purpose of this Section. The HP/V distinguishing license plate authorized by M.G.L. Chapter 90, Section 2 and the temporary identification authorized by the provisions of this Section.
(Ord. 1983 c. 20; CBC 1985 6-7.2)
Editor’s note:
   The powers and duties of the Traffic and Parking Commission, the Traffic and Parking Commissioner and the Traffic and Parking Department were assumed by the Transportation Commission, the Transportation Commissioner and the Transportation Department respectively under the provisions of s. 20 of Ch. 608 of the Acts of 1986.
6-7.3   Identification Card.
   The Commission on Handicapped in cooperation with the Department of Traffic and Parking shall issue a temporary identification card certifying the right of the holder to use parking spaces designated as reserved for disabled veterans or handicapped persons in the following circumstances: disabled veterans or handicapped persons who have applied for but not yet received the distinguishing license plate authorized by M.G.L. Chapter 90, Section 2; disabled veterans or handicapped persons whose motor vehicle is out of service and who are using a motor vehicle not bearing said distinguishing license plate; disabled veterans or handicapped persons who have an out-of-state HP/V license plate; and individuals who have acquired a temporary disability of a severe nature and who can provide medical documentation of same. A separate dashboard card shall be issued to those who transport persons who are blind or mobility impaired which will allow 60-minute parking in HP/V designated areas. Said cards shall be valid for a maximum of 90 days and shall be distinctive so as to disallow fraud, and shall be numbered and tracked by a comprehensive record keeping process. Any person who improperly uses a motor vehicle with a HP/V distinguishing plate or temporary identification authorized by the provisions of this Section shall be subject to a fine of $200. If a person receives a parking violation while properly using HP/V distinguishing plate or temporary identification authorized by the provisions of this Section, said violation shall be dismissed if, prior to 21 days evidence demonstrating to use handicapped parking rights at the time of receiving the ticket.
(Ord. 1983 c. 20; Ord. 1984 c. 8; CBC 1985 6-6.3)
Editor’s note:
   The powers and duties of the Traffic and Parking Commission, the Traffic and Parking Commissioner and the Traffic and Parking Department were assumed by the Transportation Commission, the Transportation Commissioner and the Transportation Department respectively under the provisions of s. 20 of Ch. 608 of the Acts of 1986.
6-7.4   Revocation of Designated Parking Space.
   Whenever the Transportation Department shall have designated a particular parking space as reserved for handicapped persons as a result of a request made by a qualified resident applicant residing nearby and two years have elapsed since designation, the person who filed the request shall be notified in writing that unless an affidavit of continued need (in a form to be provided by the Department) is filed within 60 days, the designation will be revoked. Where no such affidavit is timely filed, the designation shall be deemed revoked and marking signs removed forthwith.
(CBC 1985 6-7.4; Ord. 1996 c. 13)
6-8   MUNICIPAL DEPOSITORIES AND CONTRACTS FOR BANKING SERVICES.
6-8.1   Definitions.
   For the purpose of this Section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
   APPLICANT. Any person who applies for a mortgage loan, commercial loan, home equity, consumer, home improvement or student loan as defined in this Section, whether or not the loan is granted.
   BANKING SERVICES. Products and services provided by a financial institution to the city including, but not limited to, checking and deposit accounts, lockbox services, balance retrieval and online banking, electronic or direct deposit, electronic stop payment systems, credit or debit or wire transfer systems, ACH payments, credit or debit or purchase cards and direct banking services.
   BOSTON SMSA. The Standard Metropolitan Statistical Area of the Greater Boston Region as defined by the United States Bureau of Census.
   CENSUS TRACT. A standard statistical area as established by the United States Bureau of Census.
   COLLECTOR-TREASURER. The Collector- Treasurer of the city.
   COMMERCIAL LOAN. A loan that is secured by commercial property.
   COMMUNITY DEVELOPMENT LOAN. A loan that is secured for the purposes of constructing or rehabilitating commercial or residential property.
   COMMUNITY REINVESTMENT. Residential and mortgage lending services and also meet the definition of “community development” as defined in the Federal Community Reinvestment Act of 1977 regulations, being promulgated under 12 U.S.C. § 2901 and 12 C.F.R. pts. 25, 228 and 345.
   COMMUNITY REINVESTMENT SCORE. A financial institution’s award of points, on a scale of zero to 100 total points, pursuant to Subsection 6-8.7 as determined by the Municipal Banking and Community Reinvestment Commission.
   CONSUMER FINANCIAL PRODUCT. Any product sold by a financial institution to facilitate personal consumption and include, but are not limited to, checking accounts, credit and debit cards or other unsecured revolving accounts, online bill pay services or balance transfer services.
   CONSUMER LOAN. A loan which is secured by an individual or families to finance personal consumption.
   DISTRESSED PROPERTY STATUS. The type of property which would be listed on the Real Estate Multiple Listing Service as a “distressed property sale”, due to it being sale of a bank owned property or a short sale made subject to approval by the mortgage lender.
   ELIGIBLE FINANCIAL INSTITUTION. A financial institution that scores in the top 75% of the community reinvestment rankings, as described by Subsections 6-8.9(C)(1) and 6-8.9(C)(2), and may contract with the city for banking services and serve as a designated city depository.
   FINANCIAL INSTITUTION. Any commercial bank, savings bank, savings and loan association, credit union, cooperative bank, mutual bank, trust company or other entity which makes commercial, community development, consumer, home improvement, residential, small business, student loans or which is the subsidiary, parent, servicer, trustee or Agent of any of the types of entities listed in this Subsection.
   FINANCIAL INSTITUTION EMPLOYEE. Any person employed by a financial institution or its subsidiaries or other affiliated or related entities.
   HOME IMPROVEMENT OR REHABILITATION LOAN. A loan, the proceeds of which are to be used for the purpose of repairing, rehabilitating or remodeling an existing residential dwelling.
   INELIGIBLE FINANCIAL INSTITUTION. A financial institution that scores within the bottom 25% of the community reinvestment rankings, as described in Subsection 6-8.9(C)(3) and may not contract with the city for banking services or serve as a city depository.
   JUST CAUSE. As defined in M.G.L. Chapter 186A. It shall be applied to any occupants of such property, whether those occupants are the former owners of the property or tenants of the former owners.
   MORTGAGE LOAN and HOME EQUITY LOAN. A loan which is secured by residential property.
   PREFERRED FINANCIAL INSTITUTION. A financial institution that scores in the top 25% of the community reinvestment rankings, as described in Subsection 6-8.9(C)(1).
   REDLINING. The practice of systematically denying credit on the basis of the geographic location of the borrower or property to be borrowed against.
   RESIDENTIAL LOAN. A mortgage or home equity loan which is secured by residential property.
   SMALL BUSINESS LOAN. A loan or extension of credit to a new or established business with an annual gross profit totaling not more than $1,000,000.
   STUDENT LOAN. A loan which is secured for the purposes of financing or refinancing a student’s attendance at any degree-granting educational institution authorized by law to provide a program of education beyond the high school level, made by, or on behalf of, such an institution or a financial institution.
   WHISTLEBLOWER PROTECTIONS. Procedural safeguards established both by a financial institution and the Municipal Banking Commission that provide financial institution employees with a confidential, reprisal free mechanism for reporting actions involving city funds held in custody by a financial institution holding city funds that constitute fraud, abuse or waste.
(CBC 1985 6-8.1; Ord. 2013 c. 9)
6-8.2   Disclosure of Lending Information and Banking Practices.
   Any institution desiring a contract for banking services with the city or to become a city depository, as designated by the Collector-Treasurer in accordance with the City’s Linked Deposit Program, and for which disclosure is required by the Federal Home Mortgage Disclosure Act of 1975 (being Pub. Law No. 94-200, codified at 12 U.S.C. §§ 1801 et seq. and 461 et seq., “HMDA”), the Community Reinvestment Act of 1977 (being 12 U.S.C. §§ 2901 et seq., “CRA”) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (being Pub. Law No. 111-203, see 12 U.S.C. §§ 5301 et seq., “Dodd-Frank”) or related laws, shall be required to annually disclose, on forms approved by the Collector-Treasurer, for the entire city, for each census tract within the city, for each census tract outside the city that is within the Boston SMSA and for Boston residents, the financial institution’s:
   (A)   Loan activity. The number of loans and total dollar amount, the median effective interest rate, the median down payment, the median amortization and the percentage of such applicants whose applications were denied for Boston residents, including, but not limited to, low and moderate income, minority and female applicants for the following types of loans:
      (1)   Residential lending information:
         (a)   Data shall be reported separately for property containing one to four dwelling units, five to eight dwelling units and more than eight dwelling units applied for and originated during the previous calendar year in each of the following categories:
            1.   Conventional mortgage loans;
            2.   Mortgage loans which are insured under Title II of the Housing Act of 1949, being 42 U.S.C. §§ 1471 et seq., or which are guaranteed under 38 U.S.C. Chapter 37 (FHA or FMHA loans) or 38 U.S.C. Chapter 20 (VA loans);
            3.   Mortgage loans which are insured or financed by the Massachusetts Housing Finance Agency (“MHFA”); and
            4.   Mortgage loans offered through the Mass Housing Partnership SoftSecond mortgage program or other comparable affordable mortgage products.
         (b)   The financial institution shall also include separate information and data on loans to households with incomes below 80% of area median income, to households with incomes between 80% and 120% of area median income and to demographics as reported under the Federal Home Mortgage Disclosure Act of 1975 (being Pub. Law No. 94-200, codified at 12 U.S.C. §§ 1801 et seq. and 461 et seq.
      (2)   Refinancing of home purchase loans. The financial institution shall also include separate information and data on loans to households with incomes below 80% of area median income, to households with incomes between 80% and 120% of area median income and to demographics as reported under the Federal Home Mortgage Disclosure Act;
      (3)   Home improvement loans or rehabilitation loans made on residential properties;
      (4)   Home equity loans;
      (5)   Multi-family loans;
      (6)   Loans to non-occupant owners of single family housing;
      (7)   Modifications of distressed loans and type of modification, including interest rate reductions, principal reduction or repayment plans in which the outstanding loan amount increases, and an indication of whether the modification was executed under the federal Home Affordable Modification Program (“HAMP”) or another federal program, Massachusetts’ Home Modification Loan Program (“HMLP”) or another commonwealth program, or the institution’s own modification program;
      (8)   Defaults and delinquencies on home loans, the number of resulting foreclosures, the number of eviction actions filed and the financial institution’s policies around foreclosure activities, including interactions with the occupants of the property and any actions taken to evict or otherwise displace them;
      (9)   (a)   The financial institution shall also provide information on the total number of foreclosed (REO) property in the city of which the financial institution, or its parent or subsidiary, is the owner, in addition to the number of such properties owned by an entity for which the financial institution is the servicer, trustee or Agent and the length of time each REO property has remained on the market.
         (b)   For each of the above categories, fixed rate loans shall be reported separately from adjustable rate loans. For residential loans and home equity loans, financial institutions shall disclose, as applicable: age and credit scores of applicants and borrowers; points and fees at origination; rate spread (the difference between the APR for the loan and the benchmark for all loans); terms of prepayment penalties; property value; actual or proposed term of any introductory period after which rate may change; presence or any contractual terms that would allow a borrower to make other than fully amortizing payments during the term of the loan; actual or proposed term of loan; mortgage channel through which application is made (e.g., retail, broker or other category).
      (10)   Small business lending information. Data should include resident owned business enterprises in the entire city and in each census tract. Loans to small businesses with revenues above $1,000,000 shall be reported separately from loans to small businesses with revenues under $1,000,000. The financial institution may use the data reporting procedures mandated by the Federal Community Reinvestment Act of 1977 (being 12 U.S.C. §§ 2901 et seq.) for reporting small business loans;
      (11)   Community development loans and investments. For each loan and investment, the institution shall indicate if the loan or investment was for affordable housing, small business development, community facilities and other such categories requested by the Collector-Treasurer or Municipal Banking Commission;
      (12)   Consumer loans and other lines of credit. Data shall including the minimum, median and maximum nominal and effective interest rates applied; the number and dollar amount of all credit card loans charged above an 18% rate of interest;
      (13)   Student loans;
      (14)   For consumer loans, home improvement loans or student loans, financial institutions shall also disclose information which includes the rate spread and the terms of any prepayment penalties; and
      (15)   Any additional information requested by the Collector-Treasurer.
   (B)   Participation and services.
      (1)   Branches and deposits. The number of branches, ATMs and number and dollar amount of deposits for the entire city and for each census tract; deposit information, including, but not limited to, the number of savings and checking accounts and the total aggregate dollar balances in savings and checking accounts; the percentage of accounts held by city residents assessed with overdraft fees; and the value of such fees;
      (2)   Workforce composition. Compliance information with the Boston Jobs and Living Wage Ordinance, Chapter 24;
      (3)   The most recent annual report or SEC 10-K report with quarterly financial updates;
      (4)   The most recent “Community Reinvestment Act Evaluation” issued by the commonwealth and federal regulatory Agency authorized to conduct such evaluations; and
      (5)   A copy of the financial institution’s branch closing policy. It shall be the policy of the city to require that financial institutions give written notice to the Mayor, Boston City Council and Collector-Treasurer 120 days prior to the closing of any branch of such financial institution located within the city. The notice shall identify the location of the branch, the date on which the branch is expected to close and the reason for the closing of the branch.
(CBC 1985 6-8.2; Ord. 2013 c. 9)
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