Los Angeles voters rejected a 2018 ballot measure — by a 56%-to-44% margin — that would have cleared the way for creation of a public bank. All libraries are closed until further notice. If you are in need of food assistance, visit our pantry locator or dial 211. Los Angeles Public & National Holidays (2020) Download PDF A city in Southern California , Los Angeles is the most populous city in California and the second -most populous city in the United States. At this moment, the City of L.A. has not identified a date for reopening libraries, but we will be ready to offer curbside service once we are able. Los Angeles voters on Tuesday rejected a ballot measure that would have put the city one step closer to establishing its own public bank. For the vote to go their way, activists will have to demystify a technical financial concept, and answer charges from critics that a city-owned bank will prove too risky and too costly for … The City of Los Angeles sends the nation-wrecking finance industry more than $100MM/year in the form of fees and penalties for its banking business, supporting the institutions whose racist lending… On November 6, Los Angeles voters will decide on a ballot measure that would allow the city to create a public bank to hold the city’s funds. As of February 2020, Public Bank Los Angeles is currently working on a white paper addressing capitalization, lines of business, loans and financial products to support renewable energy infrastructure, banking services for City of LA and other participating members, impact and equity, regulatory purview and phasing, and governance and jurisdiction of the Bank of Los Angeles. DSA Los Angeles has formally adopted an endorsement of Public Bank LA, with 97.1% of voters in favor of the endorsement. Los Angeles Needs a Public Bank By David Jette, Sydiot.com. Los Angeles is hoping to get into the banking business. The municipal bank would be open to California's newly legal cannabis industry, which struggles to find financing from commercial banks. The 2020 and 2021 Los Angeles annual public holiday calendar includes holidays and events that are widely celebrated throughout the United States. Los Angeles voters reject public bank Los Angeles voters on Tuesday rejected a ballot measure that would have put the city one step closer to establishing its own public bank. The California Public Banking Alliance is an ever-growing coalition that includes labor, environmental groups, tenant rights’ groups, financial institutions, Democratic clubs, elected officials, local governments, civil rights groups, sustainable transportation and energy alliances, and grassroots organizations from across California united to support local public banking. A measure on the November 6 ballot would allow the city to charter its own publicly owned bank, which would pursue investments in the public interest. Some holidays such as Christmas, Independence Day, and Thanksgiving are Federal holidays (i.e., national holidays) recognized by most all companies, government organizations, and financial institutions. The City Council of Los Angeles is now taking it to the voters; and where California goes, the nation may well follow.
Los Angeles residents and activists offered their support for the idea at City Council on Tuesday. It’s not a totally radical concept: North Dakota has had a successful public bank for almost 100 years. The Food Bank mobilizes resources to help people who are in need of food assistance throughout Los Angeles County. The Los Angeles vote represents the first popular referendum on public banking since the financial crisis brought the public bank idea back into the conversation. David Jette, right, legislative director of the advocacy group Public Bank L.A., speaks in favor of Measure B at a West Los Angeles Democratic Club meeting last month. In a press conference celebrating the passage of AB 857 in front of the Los Angeles City Hall, Los Angeles City Council President Herb Wesson, along with Assemblyman Miguel Santiago (D-Los Angeles), announced that the first public bank in California would be coming to Los Angeles. Public Bank Los Angeles. Just 42% of voters approved Charter Amendment B, which would have altered the city charter to allow Los Angeles to establish a “purely commercial” entity.
Public banking serves that purpose, providing local determination and the opportunity for socially and environmentally responsible lending and investments.
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