L.A. voters will decide whether to eliminate a barrier to a public bank

That entity, which made loans but did not take deposits or provide other banking services, had a “politicized” loan process that “distorted decisions so as to favor politically connected borrowers,” Cal State Northridge economics professors wrote.

http://www.sandiegouniontribune.com/news/california/la-me-ln-bank-ballot-measure-20181015-story.html

San Diego Union-Tribune