Initially, Octopus Cards Limited, then known as Creative Star Limited, was restricted to having at most 15 percent of Octopus card transactions for non-transport transactions, as it operated under the Hong Kong government's Banking Ordinance.
Koretz's motion would call for changes to the city's Responsible Banking Ordinance, a 2012 law that requires banks that do business with the city to submit reports on their lending and charitable activities in Los Angeles.
At the heart of the dispute are conflicting interpretations of the bank's ordinance.
A federal lawsuit seeking a permanent injunction says the city's ordinance is pre-empted by laws that leave bank regulation to federal and state agencies.
Rokakis then persuaded Cleveland, Dayton, and Toledo to adopt anti-predatory lending ordinances in 2002 so as to provide a local stopgap, but the banking lobby got the ordinances invalidated by the Ohio state legislature, with a law passed specifying that only the state could regulate banking.
A United States District Court judge last week barred Woodbridge Township from enforcing an ordinance preventing banks from charging a fee to noncustomers using their automatic teller machines.
To help solve the problem, the City Council passed a Vacant Buildings Ordinance, making banks responsible for the vacant homes before the foreclosure is complete, taking property maintenance out of legal limbo.
Since 2008, when Richmond enacted an ordinance that fined banks $1,000 a day for foreclosed properties with code violations, the city has issued more than $1.8 million in fines to property owners of foreclosed houses.
"Customers using A.T.M. machines at banks other than their own are typically charged twice, once by their own bank and again by the unaffiliated bank," said Mayor James McGreevey, who introduced the ordinance.
The original ordinance that established the bank further required that all bills of 600 gulden or upward should be paid through the bank in other words, by the transfer of deposits or credits at the bank.
The Chicago City Council even seemed poised to pass an ordinance that would require banks foreclosing on properties to pay any renters living there $12,000 in relocation fees or allow them to stay put, with rent-controlled leases, until the buildings were finally sold.
