Mayor Sam Adams announces 'responsible banking' proposal
Portland Mayor Sam Adams wants to steer more of the city's money to credit unions and small community banks.
Late Friday, Adams posted the Responsible Banking Resolution on his website. The proposal would amend the city's investment policy to allow the city to deposit up to $250,000 in credit unions.
"This is part of my pledge to address some of the founding frustrations of the Occupy movement, including economic inequity, banking practices, and the influence of corporations and money in politics," Adams said in a statement on his website...
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Posted on Feb. 06, 2012
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connect with blueoregon
7:51 a.m.
Feb 7, '12
Hooray for Mayor Adams! All responsible entities should be moving to 'responsible banking.'
7:58 a.m.
Feb 7, '12
Many individuals and non-profits in So Oregon are moving to locally owned banks and credit unions. This movement is nation-wide. Oregon Action provides information on which banks and credits unions in Oregon are making loans to local businesses, supporting local interests vs the big banks. I had thought Umpqua Bank was locally owned, but learned from Oregon Action that just having a local name doesn't make it local.