Posts Tagged: Chiu

Does public banking loom in California?

A branch of Bank of America in Beverly Hills. (Photo: 4kclips, via Shutterstock)

by SCOTT SORIANO posted 06.24.2019

By law, currently California cities and counties typically have one place to deposit the funds they collect from taxes, fees and fines: private commercial banks. Billions of dollars of public money are handled by commercial banks — for a fee. Despite having billions of dollars banked, municipalities have no say in how their money is used by commercial banks. Bank management, owners and stockholders set policy.

Drug-cost disclosure hits obstacle

Pharmaceuticals and money -- elements in the debate over a cost-disclosure bill. (Photo: O.S. Fisher, Shutterstock)

by ALVIN CHEN posted 06.10.2015

An attempt to force drug makers to disclose their costs and profits for drugs that sell wholesale for more than $10,000 annually was derailed in the Legislature, facing strong opposition from an industry targeting similar measures in other states. The forces battling over the bill include some of the most powerful in California.