In the News

August 13, 2018

Los Angeles demands more accountability from its banks

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.
September 22, 2017

Activists Push Los Angeles to Hold Its Bank Accountable

A broad coalition of elected officials, local residents and community leaders are encouraging the Los Angeles City Council to require that any bank it does business with not engage in the kinds of unethical practices that helped mire the city’s current bank, Wells Fargo, in scandal.
August 30, 2017

Stop the next Wells Fargo scandal before it happens

With that contract expiring next year, a coalition of bank reformers has asked the city council to put some teeth into the city’s Responsible Banking Ordinance so it will never again give its business to a bank like Wells. Their suggested amendments include a ban on doing business with banks that place unreasonably high sales demands on their employees, and with banks that don’t explicitly protect whistle-blowers.