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Council asks city agencies to report on investments with Household International amid predatory‑lending concerns
Summary
Following public testimony about high‑cost loans and foreclosures, the council asked the Office of Finance, CRA and Housing Department to report on city investments tied to Household International and recommend next steps; members said public policy should not subsidize low‑wage job creation.
After public testimony criticizing high‑cost and variable‑rate lending practices, the City Council on Friday directed city agencies to review investments and recommend next steps regarding Household International (Household Finance).
The motion, led by Councilmember Mike Hernandez, asks the Office of Finance, the Community Redevelopment Agency and the Los…
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