(Public Banking Institute)
| San Francisco Public Bank Coalition Moves Ahead The San Francisco Public Bank Coalition is preparing to put a measure on the 2026 ballot that would create the nation’s first municipal bank in the city. Supporters hope that such an institution could provide lower-cost lending for affordable housing, small businesses, and green infrastructure. A recently released poll shows 67 % of likely San Francisco voters are in favor of the idea. The push comes after legal barriers to forming a public bank have largely cleared, giving organizers confidence to move forward. The coalition argues that the city’s pressing housing crisis and funding gaps make such a bank especially timely. They envision it as a tool for public investment and local economic resilience. However, creation of a municipal bank would still face political, logistical, and regulatory challenges. Backers will need to craft ballot language, build civic support, and ensure compliance with banking oversight. If successful, San Francisco could become the first U.S. city to adopt such a model. |
