At-Large City Councilor Felix Arroyo, a Jamaica Plain resident, has for several years been pushing the “Invest in Boston” ordinance. The City Councilor passed that measure unanimously on Sept. 18, according to a press release.
The “Invest in Boston” ordinance calls for the City to deposit funds only in banks that demonstrate they are directly helping Bostonians through lending practices, hiring or other activities.
“We know Boston is a prosperous city, but we know that prosperity does not reach every neighborhood,” said Arroyo, who wsa running for mayor in the preliminary election at the time, according to the press release. “‘Invest in Boston’ helps us bridge that divide and create real pathways out of poverty and into the middle class for all Bostonians.”