The city of Los Angeles could be leading the way by establishing the state’s first city-owned bank. The proponents say it could save millions of dollars, but is it true?
Will the city’s own bank be able to keep its integrity and stay out of politics?
My guest today is Beth Mills, Senior Vice President of Communications at Western Bankers Association. Today she will explain what a city-owned bank entails and the effects a government-operated financial institution could have on the community.