The City Council approved an agreement Tuesday merging a local financial literacy program with the United Way in an effort to expand the program and offer the services region-wide. Bank on Sacramento is a collaboration between local nonprofit organizations, banks and credit unions to help residents who don’t have bank accounts – or historically have not used mainstream banking services – to get access to low-cost accounts and financial advice so they can begin saving money and building credit history. According to a city staff report, the merge allows the United Way California Capital Region to administer the program and expand the services to residents of Amador, El Dorado, Placer, Sacr

City Manager John Shirey withdrew a contract Tuesday with two firms that the City Council planned to consider as financial and technical advisers in the search for a potential parking operator lessee, assistant city manager John Dangberg said Wednesday. “We decided it just wasn’t the right direction to go for the process at this time,” Dangberg said. The city hired the firms – Bank of America Merrill Lynch and Walker Parking Consultants – in September to take an inventory of the city’s parking and come up with an evaluation of potential profit from leasing out the assets. Leasing out the city’s parking system is one of a handful of options under consideration for financing a new sports

Sacramento|Yolo Mutual Housing Association recently raised nearly $65,000 at their second Building Up Breakfast in one-time donations and multi-year pledges. As expected, attendance was higher this year than at the inaugural event in 2010. Thanks to the sponsors, Bank of America, U.S. Bank, Wells Fargo Bank, Roseville Bank of Commerce, Sierra Health Foundation and Vital Networks, the nonprofit will be able to use all the money donated by individuals for programs, services and operations Mutual Housing develops and operates well-designed rental housing for modest-income households in Sacramento and Yolo counties. The communities are home to some 2,600 residents, nearly half of whom are ch

The owners of the office complex called Retro Lodge are continuing bank negotiations in an effort to prevent the property's sale. The $2.5 million loan balance is now several months past due, which led Bank of America to schedule trustee sales at least twice this month. But developer Heller Pacific and partners haven't given up on trying to get a loan extension after converting a former downtown Travelodge into one of the city's most creative adaptive-reuse projects, a block away from Sacramento City Hall. The bank agreed to postpone a sale scheduled for Thursday while the partners are deep in talks with them. The project, which received no public subsidies, began taking tenants in 2008

A major international bank that has generated controversy on the national level is being welcomed to Sacramento by the city’s mayor. At the same time, Goldman Sachs is being sued by a city councilman. Sacramento Mayor Kevin Johnson’s volunteer arena task force has applauded Goldman for volunteering to work with task force members to analyze proposals for a new entertainment and sports complex. Meanwhile, City Councilman Steve Cohn is suing Goldman as part of his day job. Cohn is the Chief Assistant General Counsel for the Sacramento Municipal Utilities District, which is fighting Goldman in federal court in New York. SMUD alleges that Goldman and 46 other financial companies together ch

Facing a dramatic toy shortage,The Salvation Army of Sacramento has announced a partnership with the Sacramento Metro Chamber for an eleventh-hour push to receive new, unwrapped toys this week. The Metro Chamber reached out to many of its members to help donate to the Salvation Army Toy Drive or to host a donation bin at their business location. A couple of member businesses responded in a big way: Bank of America and Wells Fargo. Bank of America has agreed to participate as a toy drop-off site in eight bank locations throughout the Sacramento region, through Friday, Dec. 18. Further, Wells Fargo Northern California Foundation is making a donation of $5,000 to The Salvation Army to help s

Sacramento, CA Friday, May 1, 2009 Several Sacramento Police officers formed a blockade at the front entrance of the Five Fifty Five building on Capitol Mall today as demonstrators gathered to let their voice be heard by Bank of America officials. The downtown branch of Bank of America is located on the ground floor of the Five Fifty Five building. Bank personnel guarded the back ally entrance to be sure that those entering were there for bank business and not part of the demonstration. At this location the demonstrators were voicing their opinion of alleged misuse of bailout funds handed to the banks, and calling for the CEO of BofA to step down. When we attempted to question bank offici