Senators ask for $100M share in $16.65B settlement
Ohio’s two U.S. senators are asking for $100 million out of a $16.65 billion private settlement between Bank of America and the U.S. Department of Justice in order to provide relief for some of the state’s hardest-hit counties, including several southwest Ohio counties.
And the plan is to have this money funneled directly to the 22 county land banks that directly deal with properties in disrepair and need to be demolished in order to improve communities.
Sens. Sherrod Brown, D-Avon, and Rob Portman, R-Cincinnati, sent a letter to Bank of America last week asking the company to direct part of its multi-billion settlement reached in August to Ohio communities.
“It’s time that the big banks make right for these practices and reinvest in Ohio communities,” Brown said. “By securing these funds, we can help families stay in their homes and rebuild their neighborhoods. I urge Bank of America to invest in Ohio.”
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