Philadelphia City Council has unanimously approved Councilman W. Wilson Goode, Jr.’s 2009 Depository Compliance Bill. It is the third economic opportunity enforcement bill offered by Goode to be approved this fall.

The 2009 Depository Compliance Bill enforces Goode’s Fair Lending and Community Reinvestment Ordinance, which requires City depositories to annually submit goals for lending in low and moderate-income communities, as well as a long-term strategic plan to address any lending disparities disclosed in an annual study.

Last week, City Council unanimously approved Goode’s Living Wage & Benefits Enforcement Legislation, empowering City Council to bring debarment charges against city contractors for failure to comply with the City’s minimum wage and healthcare benefits standard.

Three weeks ago, Council unanimously approved Goode’s Economic Opportunity Enforcement Legislation, empowering City Council to bring similar charges against city contractors for failure to make best and good faith efforts to implement economic opportunity plans.

Councilman Goode said, “I believe that there should be a direct connection between the political empowerment of disadvantaged people and the creation of economic opportunities for them” – quoting a policy publication that he authored last year titled Goode Work.