Council members said that they want banks to be held more accountable for their actions.
Members proposed a new ordinance that would require banks to maintain vacant and foreclosed properties, ONN's Lot Tan reported.
Cincinnati resident Robert Pace received his foreclosure notice in May of 2011.
"When and if they decide to eveict me I'm not going anywhere. I'm not leaving they will have to drag me out," Pace said.
Pace couldn't afford to pay his mortgage after losing his job as a manager with University Hospital.
"I bought into the American dream. Everyone wants their own home, it's not my fault the economy crashed it's the banks, the banks need to be held accountable," Pace said.
Cincinnati council members introduced a new ordinance that supporters said would hold more banks accountable.
"They have to take care and maintain their properties just like the rest of us. Too big too fail does not mean too big to mow the grass," Council member P.G. Sittenfeld said.
The legislation includes a mandatory registry for vacant foreclosed properties and stiff civil offense charges for properties not properly maintained.
Pace said that he thought the ordinance will work.
"It's excellent. It's exactly what we need to hold banks accountable," Pace said.
Severe fines could also be assessed, but officials hoped the ordinance would encourage banks to sit down and talk with homeowners.
"We need them to work with homeowners and reorganize their loans to stabilize a community and neighborhood," Councilmember Cecil Thomas said.
At least seven council members supported the proposed ordinance. If it becomes law, it would go into effect in 30 days, Tan reported.
ONN called banks headquarted in Cincinnati for a response to the proposed ordinance.
"Once we've taken title of the property, we have utilities running and grass mowed. It is to our advantage to keep the property in good condition," Northside Bank and Trust's Vice President Marshall Liberman said.
Liberman said that the proposed ordinance could have some impact but would not be a "cure all.” He said that he believed it would be tough to enforce the ordinance for larger lenders.
A spokesperson for Fifth Third Bank based in Cincinnati said that they do not comment on proposed ordinances.
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