Santa Clara County’s board of supervisors voted unanimously to study how they might create a county-owned public bank, San Jose Spotlight reports. The move follows one by San Jose, the county seat and largest city, whose council members have also signed on, at least tentatively, to the idea. Why the hesitation? Because publicly owned banks […]
Nomi Prins pens this powerful piece on why #AB857 and public banks can help curb abusive big banks. As a former Goldman Sachs executive, she has witnessed Wall Street’s recklessness firsthand and understands why it’s important to enable localities to create public banks to use local funds for public good, not private profit. By Nomi […]
By Mark Anderson – Staff Writer, Sacramento Business Journal. California lawmakers have considered allowing public banks several times, starting in the depths of the financial crisis. The city of Los Angeles and the city and county of San Francisco on Tuesday approved support for an assembly bill that would allow local governments to form their […]
The public banking revolution has arrived! In Ellen Brown’s latest article, she discusses the I-Bank bill #SB528, our cities and regional public banking bill #AB857, and the momentum gaining around the country as policymakers race to form the first public bank in the United States since the Bank of North Dakota, founded in 1919. Read […]
On Tuesday morning, the Los Angeles City Council passed a resolution introduced by LA City Council President Herb J. Wesson in support of AB 857 – a bill to give California cities and municipalities the option to start their own public bank. Arguing for the measure, City Council President Wesson had this to say: “This […]
Today on Flashpoints: The push for a public bank in California. Trinity Tran and Sushil Jacob with the California Public Banking Alliance talks to KPFA’s Dennis J. Bernstein about the groundbreaking California State Assembly Bill AB 857, the growing public banking movement and why this is a pivotal moment for Californians. Interview starts at 21 […]
Two California Democratic lawmakers have introduced a bill that would develop a state-owned banking system, modeling it on a program run by one of the smallest states in the union. California Assemblymen Miguel Santiago, D-Los Angeles, and David Chiu, D-San Francisco, have introduced Assembly Bill 857, which would enable local governments to charter their own […]
Legislation introduced Monday could lay down the foundations for the creation of public banks in California and provide an alternative to San Francisco’s use of profit-driven commercial banks. Currently there are no public banks in California, and no legal avenues to create one. But Assemblymembers David Chiu, D-San Francisco, and Miguel Santiago, D-Los Angeles, hope […]
FOR IMMEDIATE RELEASE Los Angeles, CA/San Francisco, March 11, 2019 – Asm. Miguel Santiago (D-Los Angeles) and Asm. David Chiu (D-San Francisco) held press conferences in their respective districts on Monday to introduce a new bill that will make it easier to establish regional and municipal public banks throughout the state of California. The California […]
Originally posted in Medium. Dianne Feinstein, our Senator, had a viral moment on Friday, February 22, when a video circulated online of her lecturing Bay Area children about why she does not support the Green New Deal. The children were her constituents, on a visit to her office as part of an action coordinated with Sunrise Movement Bay Area, a […]