Caddo may give banks a reason to offer services nearer to you

Caddo may give banks a reason to offer their services closer to you
(Source: seetekcorp.com)
(Source: seetekcorp.com)

Some Caddo residents have no access to adequate banking facilities, a parish commissioner says.

Now Commissioner Steven Jackson wants to address these bank deserts that impact those, in particular, who have no transportation.

He wants the parish to form a banking and development task force.

The Caddo Commission will vote Thursday on a resolution that would authorize the task force.

The resolution cites the recent closures and downsizing of several banking locations in Shreveport.

CLOSED

  • CHASE Bank, 332 E. 70th St.
  • CHASE Bank, 1673 E. 70th St.
  • CHASE Bank, 5959 W. 70th St.
  • Capital One, I-20 West

DOWNSIZED

  • Capital One, 4646 Hilry Huckaby III Ave.
  • Capital One, 1927 N. Market St.,
  • Capital One, 3715 Greenwood Road

The downsized locations no offer ATM services only and no banking services.

"When traditional banking institutions move out, predatory lenders move in, payday lenders move in. And they prey a lot of times on the elderly, the poor and the disenfranchised," Jackson said.

Empty bank buildings also send a message that investment isn't important there, he added.

The resolution calls for the task force of parish commissioners, banking representatives and representatives of other organizations to hold at least three public hearings to help determine banking needs.

The task force then would come up with recommendations as to what areas could be established as banking development districts.

The commission could then partner with a bank and offer incentives to put up a location or kiosk in those areas.

Louisiana law already allows establishing banking development districts and encourages local governments to work with banks to establish branches.

"Banking is changing. And we understand the face of banking is changing," Jackson said.

"But we want to make sure we continue to have adequate banking for our citizens."

The initial timeline calls for the task force to make its recommendations sometime around July and at least be done within the year.

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