Adams' 'responsible banking' proposal passes
Portland city commissioners on Wednesday voted 5-0 to pass a proposal from Mayor Sam Adams to overhaul the city’s banking policies in order to bring more local banks and credit unions into the fold.
"This is the right pragmatic framework and a good first step," said Jennifer Yocom, the mayor's chief of staff, after the vote. "It's good for taxpayers."
The proposal, called the Responsible Banking Resolution, calls for depositing $250,000 of the city’s money in each of 10 Oregon banks and credit...
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Posted on May 16, 2012
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