Occupy Portland, Wells Fargo respond to mayor's community banking proposal

Portland Business Journal:

Mayor Sam Adams' proposal to steer more of the city's money to small banks and credit unions is generating an overwhelmingly positive response, including from Occupy Portland.

Last Friday, the mayor posted a draft proposal to steer $250,000 – the insurable maximum —to 10 credit unions or community banks. The proposal calls for depositing more than $250,000 in one credit union, provided it meets certain criteria.

As of Thursday morning, the 12 online responses to the proposal were positive with many urging the mayor to go even further in his effort to bank local...

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