The Alliance’s Rick Girling penned an op-ed discussing the banking system’s shortcomings following Silicon Valley and Signature Banks’ collapse. Advocates propose public banks to offer fair services and break the cycle of bank failures and bailouts. Read the article on El Tecolote Artwork: Mural Doctor
The Alliance’s Julian LaRosa’s latest piece in Jacobin. Silicon Valley Bank’s collapse was no aberration: hundreds of private banks in the US have failed since the Great Recession. For a more stable financial system that actually meets ordinary people’s needs, we need to expand public banking. One of the great philosopher-artists of the 2000s and […]
March 18, 2023. Trinity Tran, Truthout. We have a pivotal opportunity to reshape our financial system for the benefit of all. The recent collapse of Silicon Valley Bank (SVB) and Signature Bank — the second and third largest bank failures in U.S. history respectively — has laid bare the vulnerability of the private banking sector. […]
In California, 81% of unbanked individuals earn less than $15/hr, hitting low-income families and people of color the hardest. “We can’t create a stable economy when financially underserved households spend an average of 10% of their take-home pay in fees and interest, just to access their own money and pay bills,” Assemblymember Miguel Santiago said. […]
The public banking movement is gaining momentum in the United States as more people seek alternatives to traditional banking institutions. Unlike traditional banks that prioritize profit above all else, public banks aim to promote community development and social justice. Piper French, a journalist with Noema Magazine, recently spoke with Trinity Tran, George Syrop, and other […]
San Francisco is taking bold steps towards establishing a Municipal Finance Corporation that is set to become a public bank within the next three to five years. The city aims to launch the $50 million Municipal Finance Corporation, with a focus on financing infrastructure projects, affordable housing initiatives, and small businesses. The establishment of a […]
Oakland Post – Vice Mayor Rebecca Kaplan, a longtime supporter of strengthening funding for local small businesses and important public projects, successfully moved to approve the resolution along with the viability study. Kaplan had proposed the initial public bank study in the previous Oakland budget, and the regional multi-city collaboration that allowed the public bank […]
Public banks can drive the renewable energy revolution by investing in clean energy alternatives, divesting from fossil fuels, and building community wealth. Read “Public Banking for Climate Justice” by the Alliance’s Communications Director, Rick Girling, to learn more. “If we want a future other than ecological collapse, we need to remake the financial system that […]
The California Public Banking Alliance (CPBA) received the Equitable Futures Award at the California Reinvestment Coalition award gala. Our important work in public banking and commitment to creating a more just and equitable economy for Californians was recognized in a stellar ceremony held in Los Angeles on November 3, 2022. CPBA’s lead organizer, Trinity Tran, […]
The latest updates from cities and regions throughout California working to create municipal banks. Central Coast – People for Public Banking Central Coast are optimistic that Santa Cruz County may soon issue an RFP for a Central Coast Public Bank viability study. East Bay – The East Bay Viability Study was approved by Richmond in […]