Chicago Teachers Union Negotiates Foreclosure Relief for CPS families » Moratorium NOW! Coalition to Stop Foreclosures, Evictions, and Utility Shutoffs

``CPS shall not do any business with the five banks responsible for the largest number of foreclosures within the City of Chicago until they agree to write down the mortgage principals and interest rates for all homeowners facing foreclosure within the city to market value as a part of an affordable and sustainable loan modification program to prevent foreclosures. The aforementioned banks are Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, and Deutsche Bank.''