Politics & Government

Could Elk Grove Dump Bank of America?

City finance director tells Elk Grove Citizen the city is considering moving its banking services.

In January, Elk Grove Patch reported that Occupy Elk Grove activists were with Bank of America in favor of a local bank or credit union.

Like Occupy activists nationwide, Occupy Elk Grove criticized B of A for deceptive lending practices and what they saw as the banking giant's lack of commitment to local communities. (Bank of America declined to comment on the campaign, citing customer privacy concerns.)

The movement seemed to fizzle, however, when activists canceled a planned presentation on the idea to City Council members.

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But the Elk Grove Citizen reported Thursday that with the $108,000 B of A contract set to expire June 30, the city has put out a request for other bids and "wants to see what's out there," according to city finance director Brad Koehn.

Elk Grove City Council members will likely select a bank at one of their meetings in June, the Citizen reports.

Find out what's happening in Elk Grovewith free, real-time updates from Patch.

“I know that is going to take some footwork to do, but I think that the city of Elk Grove would be held in higher esteem if it were to alienate itself from Bank of America," Occupy Elk Grove activist Kathleen Rogers told the Citizen.

Council members are usually quick to pledge their support for local businesses—though their most recent foray into that arena from a Sacramento Superior Court judge.

Could the city really leave a major bank for a smaller, local outfit? And would it be the best thing for Elk Grove? Tell us in the comments.


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