According to a story in The American Banker from the Spring of 2000, Mayor Daley was considering an ordinance that would prohibit the City from depositing its funds in any bank funding or buying loans with interest rates above 11% or charging four or more points. “We find it interesting that Household International corporate headquarters was in Chicago and by 2002 Household was hit with a nationwide predatory lending suit” said a member of Household – HSBC Watch.
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