If such laws drive "other institutions to partner with us, it would make a difference," says Brian Argrett, CEO of City First Bank of D.C., a community development financial institution.

Boston, Minneapolis Mandate 'Responsible' Lending by Banks

The two cities join New York, L.A. and other cities in trying to force the banks that hold municipal deposits to make more loans in low-income neighborhoods. Some industry officials oppose them, while others welcome them.

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