UPDATE Responsible Banking Ordinance

The Los Angeles City Council unanimously approved a proposal to require banks that do business with the City to provide information on foreclosures and programs that help small businesses in the City.

Last week, Councilman Bill Rosendahl spoke with Councilman Richard Alarcon (the author of proposal) in this video. Watch below to see how everything unfolded in council chambers.

The City Attorney is expected to report back in 30 days on the issue. Meanwhile, you can find more information on this subject here.

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