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§ 20.93 — Purpose

Los Angeles Municipal Code (2026 Rev. 9, current through legislation effective June 30, 2026) · Los Angeles Administrative Code § 20.93

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Sec. 20.93. Purpose.

The City of Los Angeles in exercising its power to promote the long term economic well-being of its citizens and to ensure economic growth by encouraging fair lending practices and equitable provision of banking services throughout the City shall conduct City banking transactions to the extent permissible and consistent with applicable law and the City’s interests, with banking institutions that are rated by the Treasurer as performing best at providing financial services to members of all of the City’s communities, consistent with safe and sound operation of those banking institutions. SECTION HISTORY Added by Ord. No. 167,683, Eff. 4-26-92.