LA Committee for Better Banks has launched a petition asking that Los Angeles’ elected leaders restore the public trust in our banks. The petition is a response to the growing business practice of aggressive sales goals by banks that are doing business with the City of Los Angeles. The aggressive and predatory sales goals incentivized bank workers to sell more loans and credit cards regardless of the need or quality of those financial products. This misguided incentive programs create a system where bank workers are forced to implement a predatory system of financial products for our communities.
As part of the petition, we are asking that Mayor Eric Garcetti and the Los Angeles City Council to support a policy that would prohibit the City of Los Angeles from doing business with banks that force their workers to meet predatory sales goals by pushing new accounts, loans, credit cards and debt cards of our residents.
Join the movement to transform banks in Los Angeles. Together with elected officials we can ensure that banks that do business with the City of Los Angeles does not use predatory sales goals. We need to restore the trust in our banks. We need Banking with Integrity. Sign the petition today!