City-run bank study passes LA City Council
Los Angeles City Council approved $460,000 for a study exploring a city-owned public bank, passing 11-3. The initiative aims to direct local funds toward affordable housing, small business loans, and infrastructure projects. For LA entrepreneurs, it could unlock new financing options that keep capital circulating within the regional economy.
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Summary written by Entrepreneurs Of Los Angeles. The original reporting belongs to FOX 11 Los Angeles; we do not republish the article.