Emanuel: City ahead of schedule collecting bank debt

December 20, 2011 5:23:24 AM PST
Chicago Mayor Rahm Emanuel's office has announced that his administration is ahead of schedule collecting debt owed to the city by banks.

In May, banks owed the city more than $5.5 million in fees, fines and penalties on vacant and foreclosed properties.

Now, that amount is just over $1 million, the city says.