Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee approves short extensions for Bank of America merchant and lockbox services during RFP transition
Summary
The committee forwarded two Treasurer's Office amendments to Bank of America: a one‑year, ~$1.127M increase for merchant processing services and a 90‑day, ~$83K extension for lockbox/banking services to ensure continuity while the city transitions some services to JPMorgan Chase and completes an RFP.
The Budget & Finance Committee heard a joint presentation on two amendments to agreements with Bank of America from Amanda Fried (Treasurer's Office) and Tejal Shah. The first seeks a third amendment to the merchant processing agreement to increase the not‑to‑exceed amount by $1,127,020 to $9,127,020 and extend the term through Aug. 14, 2024; the second requests a 90‑day extension for banking services…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
