The Ridgway Borough Council voted in favor of adopting a resolution in support of H.R. 1489, "The Return to Prudent Banking Act," during last night's regular council meeting.
Ridgway resident Bill Branche proposed the resolution to council members at last month's meeting.
Council member Frank Quattrone read Resolution No. 3 - 2011 in support of H.R. 1489.
"The Return to Prudent Banking Act is an effective money and banking system essential to the functioning of the economy and such a system must function in the public interest without bias," Quattrone said.
"Since 1933, the Federal Banking Act, known as Glass-Steagall, protected the public interest in matters dealing with the regulation of commercial and investment banking, in addition to insurance companies and security firms."
Pick up a copy of the Tuesday, June 21, 2011 edition of The Ridgway Record for more.
Ridgway Borough Council
Monday, July 18