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Banking Community Government News

Denn asks state legislators to aid low-income areas


WILMINGTON, Del. (AP) — Attorney General Matt Denn is calling on lawmakers to use $29 million in settlements from banks to help low-income communities in Delaware.

Denn announced his proposal Wednesday for the remaining funds received from Bank of America and Citigroup to resolve allegations that market misconduct contributed to the financial crash in 2008.

Denn is proposing to spend the funds on substance abuse treatment, prison re-entry programs, community policing and community support, help providing affordable housing, foreclosure assistance, after-school and summer programs for students.

Lawmakers rejected a similar proposal from Denn in January and instead used $5 million to balance the state budget. Another $2 million was set aside to expand policing in high-crime areas of Dover and Wilmington. The Joint Finance Committee will meet in January.

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