CBA in the News

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Local banks pledge $100 million to finance affordable housing

Sacramento region affordable housing projects will see $100 million in new financing, through a new effort from five community banks that’s spearheaded by the Greater Sacramento Economic Council (GSEC).

The $100 million in financing is the first initiative by the newly formed Community Reinvestment Coalition, launched by the Greater Sacramento Economic Council. Smith said GSEC CEO Barry Broome brought regional banking leaders from First Northern, Five Star Bank, River City Bank, Suncrest Bank and Bank of the Sierra together to form the coalition

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Charter Amendment B is one of the most ill-conceived, half-baked ballot measures in years. Vote no
Editorial in the Los Angeles Times

“Charter Amendment B is one of the most ill-conceived, half-baked ballot measures to come out of City Hall in years, and that’s saying something. There’s been no formal study, no plan, nothing of substance completed to determine whether a Bank of Los Angeles is even feasible, much less a good idea. Voters are being asked to approve a vague concept and put their trust — and their money — in City Hall to figure it all out.”

Click here to read the full text of the editorial.

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Proposed US banking fix for marijuana may not open all doors

A proposal in Congress to ease the U.S. ban on marijuana could encourage more banks to do business with cannabis companies, but it appears to fall short of a cure-all for an industry that must operate mainly as a cash business in a credit card world.

Read the Associated Press story here.