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City Council confirms oversight board for bank-linkage ordinance after brief questioning
Summary
The Los Angeles City Council confirmed four appointments to an oversight committee that will help implement the city's bank-linkage ordinance. Members raised questions about community-based representation before approving the slate unanimously.
The Los Angeles City Council on the dais confirmed four appointments to a newly formed oversight committee tied to the city's bank-linkage ordinance, voting to confirm the nominees forthwith.
Councilmembers said the oversight committee is intended to balance community advocates and banking-industry perspectives as the city implements provisions meant to address redlining and encourage reinvestment. Council President Pro Tem Ruth Galanter opened the discussion, then invited questions from members before the roll call.
Nut graf: The oversight committee is a formal part of implementing…
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