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 […]
The Board of Supervisors urged the state to create a public banking charter on Tuesday, its first formal show of support for a movement to break from Wall Street. Supervisors unanimously co-sponsored and approved a resolution that backs publicly-owned bank and called for state legislators to allow local jurisdictions like San Francisco to proceed. Supervisor […]
On Monday, February 4, ten activists from the California Public Banking Alliance went to Sacramento to attend a hearing on public banking, convened by Assembly Member Monique Limón (chair of the Assembly Banking and Finance Committee) and Assembly Member Cecelia Aguiar Curry (chair of the Assembly Local Government Committee). Before the hearing, we had several […]
Response to California Cannabis Public Bank Feasibility Study California Public Banking Alliance info@calpba.org January 15, 2019 VIA EMAIL AND U.S. MAIL State Treasurer Fiona Ma, CPA 915 Capitol Mall, Suite 110 Sacramento, CA 95814 Dear Treasurer Ma, We write in response to the publication of “State-backed Financial Institution (Public Bank) for the State of California […]
Cal Matters – By Felicia Mello and Ben Christopher. Once an idea batted around mostly in Occupy Wall Street circles, public banking is attracting a surge of interest among policymakers in several states, including California. “We must break Wall Street’s chokehold on state finance and develop our own state bank,” Gov.-elect Gavin Newsom said on […]
On November 6, responsible and sustainable economics was on the ballot in Los Angeles in the form of Measure B. Measure B was arguably one of the most important midterm ballot items in the country. For the first time in ninety-nine years, voters had the opportunity to approve by referendum a measure in support of […]
Public Banking Institute – Although LA’s Measure B did not pass, the effort generated massive awareness and support in a few brief months. The California Public Banking Alliance is now using that momentum in their work toward statewide legislation that will enable cities and regions to establish public banks. Public Bank LA, part of CPBA, […]