Business
How hard would it be for the city of Los Angeles to create its own bank? Very.
March 3, 2018
Federal regulators fined City National Bank $65 million for its failure to maintain proper risk management controls, including those related to money laundering.
Feb. 1, 2024
California
The City Council voted to fund a feasibility study for a public bank in Los Angeles. Advocates say a public bank will better serve the community.
July 6, 2023
After a long hiatus, the movement to establish a public bank in Los Angeles is once again moving forward.
Oct. 5, 2021
Probe: City may have to return federal funds because of Community Development Bank’s failure to meet job-creation goals.
April 1, 2002
Money & Company
This article was originally on a blog post platform and may be missing photos, graphics or links.
May 28, 2010
Los Angeles Mayor Tom Bradley, contrary to past denials, apparently knew that the city was doing business with Far East National Bank while he was a paid member of the bank’s board of advisers, according to documents made available to The Times.
April 29, 1989
U.S. alleges illegal racial bias in home lending by City National Bank, announces a $31-million settlement. The bank denies redlining, but agrees to remedies.
Jan. 12, 2023
June 9, 2011
Opinion
Since credit markets froze and Wall Street banks collapsed a decade ago, sending much of the global economy into a tailspin, progressive activists have pushed cities and states to take their money out of Wall Street’s hands and put it into publicly owned banks.
Sept. 20, 2018