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Rising above the city's rooftops to offer a commanding harbor view, the house was built in 1827; the third owner, who moved in 1834, was Hans Haagensen, who came to St. Thomas with a banking contract from the Danish royal family.
But a Chinese company that says it got pushed out of the deal has a different version: executives there say it was bribery, a case of an American company secretly funneling money to powerful Chinese government officials to ensure the lucrative banking contract.
The ratings, along with a list of other standard disqualifying criteria, would be used to help aim future banking contract awards.
In New York City, officials in May moved to block the bank from selling municipal bonds and said they would not sign a new banking contract with Wells Fargo until its CRA rating improves.
The Committee for Better Banks, a labor-backed group that is trying to organize bank workers, supported Koretz's initiative, but had wanted the city to go further by saying it would not sign a banking contract with any institution that uses sales goals.
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Because the most skilled workers become bankers, this means that banking contracts feature performance pay, and regulatory agencies offer "safe" contracts with guaranteed pay and retention.
All major banking contracts should be publicly available so that we can all see the shady dealings.
Similarly, the partnership set up by UPP with Bank of the West procured nearly twice as much annual revenue as all previous campus banking contracts combined.
Other banking contracts have followed.
Using AI, machine learning tools are taught the typical structure of standard banking contracts -- a process that involves a software program reading hundreds of existing documents while a human tells it the location and meaning of common data elements.
The City Council also voted to draft a new law that would impose similar requirements on any future banking contracts, mandating that the city give lower scores to banks if they have flouted state or federal regulations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com