Bankers Association opposes mayor's 'responsible banking' proposal

Portland Business Journal:

The Oregon Bankers Association and Wells Fargo have emerged as the biggest opponents of a plan put forward by Mayor Sam Adams to move more of the city's money to small banks and credit unions.

Public sentiment remains heavily in favor of the proposal, with 15 of the 17 responses on the mayor's website supporting the plan. An additional 12 comments emailed to the mayor have been in favor.

In a letter sent to Adams late last week, the Bankers Association, which represents Oregon and national banks, said credit unions were designed by Congress to serve consumers with "modest means," not local governments or small businesses...

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