He is known for his part in founding the montes pietatis banking system, with Bernardine of Feltre.

As Christians were forbidden to practice usury, i.e., taking loans on interest, the Jews took up much of the credit business.

The mons pietatis of Perugia was founded in consequence of Carcano's preaching in that city in 1461, in which he inveighed against the usury of the Jews.

His anti-Semitic discourses did much to embolden persecution against Jews, particularly in the case of the blood libel concerning Simon of Trent.

On Holy Thursday in the year 1475, the child, then about 20 months old, son of a gardener, was missed by its parents.