SOUTHWEST LOS ANGELES : Bank Executives Discuss Inner-City Investment

An organization that led a highly publicized bus tour for bankers to riot-torn neighborhoods of Los Angeles moved indoors Wednesday, sponsoring an all-day conference for about 50 city banking executives on the topic of inner-city investment.

The group, Operation Hope, also announced plans to open a home mortgage lending office for low-income residents in Leimert Park in conjunction with a Glendale-based bank. Up to seven other banks in addition to Fidelity Federal Bank are expected to participate in the loan center, due to open in February, said Operation Hope founder John Bryant.

Bryant could not provide statistics on whether lending has increased in South-Central and Southwest Los Angeles as a result of the bus tour last May and another in the wake of the riots. But he called Wednesday’s turnout a sign of continued interest by bankers, who expect to face increased pressure from the Clinton Administration to extend credit to low-income communities.