Los Angeles attempting to launch a city-owned bank (again...)

[Anonymous]

Do we really need more Banks though? I understand competition is good thing to have within any service so we're likely better off than in the old days where it were only 2-5 Banks in existence. But now we're somewhere over the 4K mark and is mind boggling that we'd need so many.

[Anonymous]

I wouldn't trust a dime of my money to them. LA has become a crap hole.

[tnhomestead]

So the same folks who can't balance a city, state or county budget want a bank of their own? Awesome! At 62, I have never seen a government program that wasn't under budget, on time, and improved lives. Look at the mere hundreds of thousands of IRS rules or the shining example of the social security folks.

[Roger1071549]

It is not just LA looking to do a public bank. Philadelphia is trying to have a city owned bank as well.

Article from the Philadelphia Tribune  

[NoMoreE46]

There was a glimpse of the Post Office trying to serve the "Underbanked."

Article below from FastCompany is from 2019:

https://www.fastcompany.com/90416889/the-answer-to-helping-the-unbanked-exists-on-every-main-street-...