Our Latest Press

Governor’s Budget Blueprint Affirms California’s Commitment to Closing Financial Services and Racial Wealth Gap

Governor’s Budget Blueprint Affirms California’s Commitment to Closing Financial Services and Racial Wealth Gap

Sacramento, CA – Members of the community coalition supporting the CalAccount program applauded Governor Newsom’s focus on ensuring all Californians have equitable access to financial services in the May Revision Budget proposal presented on May 13th for fiscal year 2022-23. The May Revision budget allocates $4 million to complete the market analysis, the first step […]

Proposals for public banks move forward in several states

Proposals for public banks move forward in several states

People’s World – For too long a handful of corporate banks have controlled the financial destiny of the overwhelming majority of Americans. Throughout American history, a commercial oligarchy was responsible for feeding corporate greed and when markets collapsed from too much debt and not enough resources to adequately fund it, countless millions of workers and […]

Californians Need A “Bank of Good”

Californians Need A “Bank of Good”

Public banking is on a roll! People across the nation are turning out to learn more about public banking — and Californians are at the forefront of making public banks a reality for the first time in generations. Public banking activists, politicians and financial experts are busy producing viability studies and business plans so that […]

Supes To Give $75K To Help Plan Public Bank For East Bay

SF Gate – March 15, 2022. A vision for a public bank in the East Bay– and possibly only the second one in the country– got a boost Tuesday when Alameda County Supervisors voted to give $75,000 to a group aiming to start one. Supervisors voted unanimously to give the money to Friends of the […]

The Public Bank Alternative

The Public Bank Alternative

Dollars and Sense features Rick Girling’s article in the September/October issue. Read his follow-up piece  “Corporate Bankers Wary of Public Banking” on Page 8 of the November/December Issue. Ever-growing inequality has helped consolidate and concentrate corporate control over the U.S. economy. The financial sector is a prime example. This issue’s third feature article, by public banking […]

The Latest in Banking Reform for the People

The Latest in Banking Reform for the People

Next City – October 12, 2021. Out of eight million unbanked households across the country, one million are in California alone. The state is now looking to address this by taking a page out of the former USPS savings account playbook. Assembly Bill 1177, passed in September and signed by Governor Gavin Newsom last week, […]

Los Angeles could be 1st major U.S. city to get a public bank

Los Angeles could be 1st major U.S. city to get a public bank

ABC7 News – October 8, 2021. Los Angeles might be the first major metropolitan city to create a public bank. A public bank would be owned and operated by the city. Los Angeles City Council voted unanimously to take the first steps in seeing the viability of a public bank. According to city councilmembers, it […]

California Public Banking Option Act (AB 1177) Passes the State Legislature

California Public Banking Option Act (AB 1177) Passes the State Legislature

September 10, 2021 – Rick Girling, Steve Sittig, Trinity Tran, California Public Banking Alliance. Today the California State Legislature approved landmark legislation guaranteeing universal free banking access to all Californians. AB 1177 sets into motion the creation of the CalAccount program guaranteeing all California residents access to basic banking services without fees or penalties. The […]

We Need Public Banking

We Need Public Banking

Jacobin – August 2, 2021. By Julian LaRosa. The basic functions of investment are too important to be left in the hands of private banks only interested in accruing profits. We need public banks — something the Public Banking Act, introduced by Reps. Alexandria Ocasio-Cortez and Rashida Tlaib, would provide. While only a few dozen […]

1239