If the city of Los Angeles has its own bank, will that help the poor and in need? Some say yes.
The Los Angeles City Council moved forward on Tuesday, June 20, to fund consultant services needed to conduct policy and economic analysis for an initial study into the formation of a public bank.
“I think what’s really exciting is that we have a potential to fill the gaps that our reliance on commercial banking has left us with,” Raman said. “I think those gaps are really felt most keenly for communities of color, and for working class people.” “We have the opportunity to offer banking services to underbanked and unbanked Angelenos. We have the opportunity to sidestep predatory practices and excessive fees,” she added.
Phase two of the study would cost the city an estimated $240,000, which would be funded at a later date.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former city council member Amanda Edwards running for Congress, appears to be out of mayoral raceMonday's announcement for the 18th District seat, now occupied by U.S. Rep. Sheila Jackson Lee, came after her intent to run in the crowded race for Houston mayor.
Read more »
Health issues force Houston Council Member Michael Kubosh to withdraw from City Controller's raceIn a surprising announcement, long-time Houston Council Member Michael Kubosh has declared his withdrawal from the City of Houston Controller's race due to health reasons.
Read more »
African Americans selected for all Dallas City Council leadership postsOn the Juneteenth holiday, the Dallas City Council elected all African American leaders at a special meeting to begin a new term.
Read more »
Philly City Council members want to restrict conversion of medical marijuana dispensaries for future recreational useDaily News | Philly City Council members want to restrict conversion of medical marijuana dispensaries for future recreational use
Read more »
Naperville City Council to remember Eva Liu, woman killed in German castle attackNaperville's City Council will hold a moment of silence in honor of 21-year-old Eva Liu before their meeting Tuesday.
Read more »
Council approves East Palestine City Park improvements funded by Norfolk Southern“It seems like Norfolk Southern is trying to make it right and I just ask for everyone’s patience through this process,' said East Palestine Mayor Trent Conaway.
Read more »