The Wells Fargo buyout of First Interstate is still a proposal, not a deal, but that hasn't prevented Los Angeles Mayor Richard Riordan from staking out an early political position.

The mayor is afraid that if Wells Fargo & Co. bought Los Angeles-based First Interstate Bancorp, the ensuing job loss would seriously harm the local economy.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.