Los Angeles City Councilman Richard has directed the legislative analyst to create a points system for grading the social responsibility of financial institutions that want to handle the city’s investments, and suggested the possibility of divesting from those that score low.

Alarcón proposed that the city create a “report card” to evaluate the number of small business loans provided, evidence of working with homeowners facing foreclosure, the number and location of branches and ATMs and the use of federal TARP funds...

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