Oakland Votes to Tax Big Banks on Foreclosures | Oakland News

Oakland voters will decide in November whether to tax big banks and investors during foreclosures — a move that could bring in $4M to $13M annually and target financial giants while sparing homeowners and small banks. Councilmember Charlene Wang champions the tax as a smart, counter-cyclical tool that might even deter foreclosures, despite earlier setbacks and concerns over loopholes. After amendments and revenue validation, the council approved it for the ballot, joining San Francisco in a growing trend of cities using tax policy to reshape housing economics. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ad0efee6ec71d8b3