Council member Goldberg proposes amendments for Link Banking oversight in Los Angeles

The Los Angeles City Council meeting on March 28, 2000, took a significant turn as members discussed the future of the Link Banking Community Oversight Board and its relationship with US Bancorp. Council member Goldberg introduced item 43A, which aims to amend previous recommendations regarding the bank's community reinvestment efforts following its recent acquisitions of smaller banks in Los Angeles.

Goldberg emphasized the importance of the oversight board's upcoming meeting on April 11, where it will provide recommendations on how the city should manage future contracts with US Bancorp. She noted that the bank's investment in the community had decreased post-mergers, prompting the council to take action to ensure better financial practices moving forward. "There's a lot at stake for the bank," Goldberg stated, highlighting the necessity of completing the review process before lifting any restrictions on the bank's ability to compete for city contracts.

The council unanimously approved the amended item, signaling a proactive approach to ensuring that financial institutions serving the city are held accountable for their community investment commitments. This decision reflects the council's ongoing efforts to enhance transparency and community engagement in financial dealings.

In addition to the banking discussion, the council also addressed a proposal to endorse Assembly Bill 1913, aimed at reforming juvenile justice in California. Council member Miskowski advocated for the bill, which seeks to provide funding for intervention and prevention programs, emphasizing the need for a comprehensive approach to juvenile justice. The council voted to support the bill, with the understanding that it would be reviewed in committee as it progresses through the legislative process.

The meeting also touched on the ongoing Rampart police scandal, with calls for the district attorney to report on the investigation. However, procedural challenges arose, leading to a decision to continue the discussion to a future meeting.

Overall, the council's actions reflect a commitment to community oversight and accountability in both financial and public safety matters, setting the stage for future discussions on these critical issues.