June 26, 2018
Banks will now have to disclose their sales goals if they are bidding on banking contracts with the city. They have to disclose if workers are disciplined or terminated based on goals, if they are based on sales or customer services, and what they are.
July 3, 2018
L.A. Bank Workers, Residents, Consumer Advocates Join City Council Members in Rally to Celebrate First-in-the-Nation Responsibility Requirements for Banks
In the News
August 13, 2018
Last month , LA took on predatory and high-pressure sales goals at major banks by tightening its responsible banking ordinance. Now, if a bank wants the city's $17 million taxpayer-funded contracts, it must be transparent about sales goal tactics and employee compensation, and it can’t retaliate against whistleblowers who report suspected illegal bank activity.