Recognizing, commending, and supporting Steen Outdoor, Keystone Outdoor, Clear Channel Outdoor, and the Philadelphia Predatory Lending Task Force for Joining Forces to Develop and Promote Philadelphia's First Anti-Predatory Lending Billboard and Education Campaign.

WHEREAS, Resolution No. 000479, introduced on June 15, 2000, requested the City Council Committee on Finance to conduct an investigation of the extent of predatory lending practices in Philadelphia and the legislative remedies to address this serious problem; and

WHEREAS, This Council has previously recognized that numerous studies have shown that the scourge of predatory lending, which depletes the very foundation of a community, is not limited to certain neighborhoods of Philadelphia, but the entire City and has been afflicting vulnerable groups of homeowners throughout the Commonwealth of Pennsylvania and across this nation; and

WHEREAS, It is the duty of this Council to protect the citizens and neighborhoods of Philadelphia, and this Body has already gone on record through identifying the predatory lending epidemic that has plagued this City when it passed unanimously Bill No. 000715-A on April 5, 2001; and

WHEREAS, There is a need to educate the citizens of Philadelphia regarding the perils and problems caused by predatory lending; and

WHEREAS, Steen Outdoor, Keystone Outdoor, and Clear Channel Outdoor have been long-term promoters of public service advertising campaigns that support various local and national organizations as well as interests that are beneficial to the City; and

WHEREAS, The Philadelphia Predatory Lending Task Force has acted as a clearinghouse for information related to predatory lending and has worked to develop solutions, including the development of consumer education, to end the problem of predatory lending in our City; now therefore

RESOLVED, THAT THE COUNCIL OF THE CITY OF PHILADELPHIA, recognize, commend, and support Steen Outdoor, Keystone Outdoor, Clear Channel Outdoor, and the Philadelphia Predatory Lending Task Force for joining forces to develop and promote Philadelphia’s first Anti-Predatory Lending Billboard and Education Campaign.

FURTHER RESOLVED, that an Engrossed copy of this resolution is presented to representatives of Steen Outdoor, Keystone Outdoor, Clear Channel Outdoor, and the Philadelphia Predatory Lending Task Force as an expression of appreciation of this legislative body.

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