The Occupy protest movement may be under pressure from police on its encampments, but a Occupy group in San Francisco insisted it is serious about starting its own credit union to serve the underbanked.
Organizers of the proposed "People's Reserve Credit Union" said they filed incorporation papers with the California Secretary of State and have had discussions with the California Department of Financial Institutions about a charter to open for business late next year in downtown San Francisco.
A spokeswoman for the California DFI confirmed that agency staffers "have spoken with a People's Reserve representative regarding the application process."
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