Public Bank LA Letter to LA City Council

As LA City Council continues their process of conducting their own in-house feasibility study, we have addressed several issues associated with forming the Municipal Bank of Los Angeles (MBLA) including: collateral, insurance, city charter amendment, and the state initiative for the Public Bank License. Below is a link to the letter which we sent to various offices at LA City Hall including the: Chief Legislative Analyst, City Administrative Office and the Office of Finance and the Councilmembers on the Ad Hoc Jobs Committee regarding the CLA report on the MBLA.