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Treasury recommends renewing banking services contracts with Citizens and JPMorgan after competitive RFP
Summary
City Treasury told the Ways and Means Committee that Citizens and JPMorgan Chase were the top scorers in a competitive RFP for banking services and recommended contracts to cover checking, lockbox, ACH, payroll and fraud‑prevention services; the administration said both are incumbents and that selection followed technical and price evaluations.
City Treasury officials told the Boston City Council Committee on Ways and Means on April 7 that they recommend renewing two banking services contracts with Citizens and JPMorgan Chase after a competitive request for proposals that produced seven responses.
“Citizens and JPMorgan are both our incumbent banking providers,” Chief Financial Officer Ashley Grafenberger said. First Assistant Collector‑Treasurer Jerica Bradley said, “This is a an RFP that we put out every 3 years for banking services.” The…
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