Action Follows Passage of Similar Legislation in New York and Los Angeles
September 18, 2013 - Boston City Councilors today unanimously passed a MAHA-backed responsible banking ordinance that will require banks that want to do business with the city of Boston to detail how they are investing in Boston's neighborhoods.
Banks receive Community Reinvestment Act grades from state or federal regulators but those grades largely reflect lending and services in areas beyond the city of Boston. With this ordinance, Boston banks will be judged solely on how well they are serving city residents and city neighborhoods. City Councilor At-Large Felix Arroyo was the lead sponsor and author of the ordinance, referred to as "Invest in Boston".
MAHA has worked on this issue for over 20 years and was the leading community voice behind the "linked deposit" executive order issued by Mayor Flynn in 1991. The first linked deposit reports in the early 1990's resulted in the city of Boston withdrawing money from some banks and encouraging other banks to improve their performance in the neighborhoods. MAHA and other community organizations helped to draft this ordinance, which is significantly stronger that the previous executive order.
Today's action follows passage of similar legislation in New York City, Los Angeles, and elsewhere.
Program celebrates Arbella Insurance Group’s 25th anniversary by giving back to the communities it serves
Quincy, MA, September 11, 2013 – The Arbella Insurance Foundation has awarded a grant of $50,000 to MAHA as part of its “50 to 25” program, which presented one-time grants of $50,000 to 25 local charities throughout Massachusetts, New Hampshire and Connecticut. “50 to 25” was created in recognition of the Arbella Insurance Group’s 25th anniversary and the important role the Foundation plays in supporting the communities Arbella serves.
The Foundation’s Selection Committee chose the 25 recipient charities from proposals thoughtfully submitted by Arbella employees, independent insurance agents and longtime charitable partners. Checks were presented to the selected charities at a celebratory luncheon in Quincy on September 10th. The selected charities are involved in social services, health and/or education.
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