LA City Council Approves $460K Study For A City-Owned Bank Amid Budget Gap #LosAngeles #CityCouncil

LA City Council approves $460K study for a city-owned bank
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Fox 11 reports the LA City Council voted 11-3 to spend $460,000 studying whether the city should open its own public bank to help finance housing, small businesses and infrastructure. Residents in the meeting mock the idea, saying the city can’t manage its own finances, and the report notes a nearly $100M budget gap.