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 […]

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 […]

Capitol Weekly – July 1, 2021 San Francisco has taken its first major step toward establishing a public bank, and other California municipalities are also moving forward in exploring public banking, including a regional effort by cities and counties on the Central Coast.   The moves come nearly two years after Gov. Gavin Newsom signed AB 857, […]

Sacramento, CA – Today, the California State Assembly approved landmark legislation that would guarantee all Californians access to basic banking services without fees or penalties. The California Public Banking Option Act, AB 1177 (BankCal), addresses the inequities in financial services acutely felt by communities that have been hardest hit by pandemic and recession: discrimination, predatory lending, […]

KCET- LOS ANGELES (CNS) – June 1, 2021 The Los Angeles City Council today voiced its support for creating a statewide public banking option for California residents in an attempt to reduce racial and income inequalities in financial services. “There’s no question that there’s a need for a public bank. The simple fact is that […]

LAist – Millions of low-income Californians might be able to bank free of penalties and fees if state lawmakers approve the latest attempt to create public banking. AB 1177 would form a state-supported public bank board, which would partner with private banks to offer the free accounts. The program would be called “BankCal.” “If a […]

By Margot Roosevelt, Los Angeles Time. Escalating overdraft charges. Minimum balances. High ATM, check-cashing and debit card fees. Banking can be expensive, especially for low-wage workers. A score of California lawmakers have signed on to a new bill designed to offer Golden State households free financial services, taking on the state’s powerful banks at a […]