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Philadelphia Adds Republic First Bank to Approved List of City Depositories Amid Roster Shakeup

Official:Amending Chapter 19-200 of The Philadelphia Code, entitled “City Funds - Deposits, Investments, Disbursements,” by revising the list of City depositories; under certain terms and conditions.

Sponsor: Councilmember Bass

Introduced: October 8, 2020

: Committee on Finance

finance technology

No one voted on this bill

This bill was introduced in the 2020–2023 Council term and when that term ran out. The public record shows no committee vote and no floor vote at any stage, so no member of Council ever went on record for or against it.

That is not unusual here. Of the 8,465 bills introduced between 2000 and 2025, 1,624 lapsed without a single recorded vote. Ninety percent of bills that became law carry a roll call. Three percent of lapsed bills do. How this works.

Plain-Language Summary

This bill amends the City of Philadelphia's list of approved banks where city funds can be deposited, adding Republic First Bank and removing Wells Fargo Bank.

What This Bill Does

AI-written. Every figure is checked against the bill text.

Adds Republic First Bank to the list of approved banks where city funds can be deposited.
Removes Wells Fargo Bank from the list of approved banks where city funds can be deposited.
The City Treasurer is authorized to deposit city funds in the specified banks or institutions.
The list of approved banks is revised to reflect the additions and removals, with the new list including the following banks: PNC Bank, United Bank of Philadelphia, TD Bank, Citizens Bank, Bank of America, Republic First Bank, Citibank, Bank of New York Mellon, and U.S. Bank.