Public Bank SF is a coalition of groups (SF Defund DAPL, SF Berniecrats, ACCE, DSA SF, SF Tenants Union, & California Calculty Association-SFSU) that is demanding that San Francisco divest its approximate $10 billion dollar cash flow from private banks and create a city charter Public Bank. We demand a bank that is grounded with principles of equity, racial, economic, and environmental justice.
The SF Defund DAPL Coalition pushed the Board of Supervisors to pass a resolution urging the Treasurer to screen out Dakota Access Pipeline-related investments. Unfortunately it was discovered that the Treasurer couldn’t truly divest unless there was a true alternative. This prompted the Treasurer to convene a Municipal Bank Feasibility Task Force as recommended by the Board of Supervisors (via Resolution 152-17) to identify and pursue opportunities to create a municipal bank. The 16 member task force meets now until August.
Category Public Bank SF
Date 29 August 2017