This month, in Council, I called for tougher rules for banks that want to do business with the City of Los Angeles. My proposed changes to the City's "responsible banking" ordinance would require these banks to disclose whether they use sales goals or quotas when selling consumer financial services.
Predatory banking practices – like sales quotas – are abusive and unconscionable, and disproportionately hurt low-income, immigrant and other vulnerable communities. The City’s taxpayers deserve to know that their money is being handled the right way, by the right banks.
Read my full statement here: http://www.nury-martinez.com/press_release_councilwoman_martinezs_statement_on_proposed_changesto_the_responsible_banking_investment_monitoring_ordinance
Watch my remarks in Council: