With each bid for interest upon City and school funds, the Comptroller shall obtain signature by either the chairman of the board, chief executive officer, or an officer acceptable to the Comptroller, of the bidding bank or savings and loan association on the following pledge:
We pledge not to arbitrarily reject mortgage loans for residential properties within a specific geographic area in Chicago because of the location and/or age of the property, or in the case of proposed borrower to arbitrarily vary the terms of those loans or the application procedures for those loans on the basis of race, color, religion, national origin, age, sex, gender identity, marital status, ancestry, sexual orientation, parental status, source of income, disability or military status. In addition, we pledge to make loans available to low- and moderate-income residential property in the neighborhoods of the City of Chicago within the limits of our legal restriction and prudent financial practices.
We understand that arbitrarily rejecting or varying the terms and/or application procedures of mortgage loans on the basis of the factors listed above may result in the loss of our designation as a municipal depository or a custodian, or both.
We certify on information and belief that we are in substantial compliance with consumer financial protection laws, subject to any previous disclosures made by us or by regulatory agencies.
(Prior code § 7-34-1; Amend Coun. J. 2-9-94, p. 45024; Amend Coun. J. 7-29-03, p. 4748, § 2; Amend Coun. J. 2-10-16, p. 18514, § 1; Amend Coun. J. 9-14-21, p. 34254, § 1; Amend Coun. J. 10-27-21, p. 39543, Art. II, § 1)