{"id":6437,"date":"2017-10-12T11:53:04","date_gmt":"2017-10-12T18:53:04","guid":{"rendered":"http:\/\/occupysf.net\/?p=6437"},"modified":"2017-10-12T11:53:04","modified_gmt":"2017-10-12T18:53:04","slug":"los-angeles-public-bank-effort-gains-steam","status":"publish","type":"post","link":"http:\/\/occupysf.net\/index.php\/2017\/10\/12\/los-angeles-public-bank-effort-gains-steam\/","title":{"rendered":"Los Angeles Public Bank effort gains more steam"},"content":{"rendered":"<div class=\"headline\">\n<h2><img decoding=\"async\" loading=\"lazy\" class=\"profile_image\" style=\"font-size: 12px;\" src=\"http:\/\/res.cloudinary.com\/nationbuilder\/image\/twitter\/w_73,h_73,c_fill\/2658169560.jpg\" width=\"72\" height=\"72\" border=\"0\" \/><\/h2>\n<div class=\"byline\">posted by\u00a0<span class=\"name\"><span class=\"linked-signup-name\">PUBLIC BANKING INST<\/span><\/span>\u00a0|<br \/>\nOctober 10, 2017<\/div>\n<\/div>\n<div id=\"content\">\n<div id=\"intro\" class=\"intro\">\n<div class=\"content\">\n<div>\n<div class=\"image\"><img decoding=\"async\" src=\"https:\/\/d3n8a8pro7vhmx.cloudfront.net\/pbi\/pages\/2513\/attachments\/original\/1507658743\/171010_LA_city_meeting.jpg?1507658743\" alt=\"171010_LA_city_meeting.jpg\" width=\"600\" \/><\/div>\n<div class=\"caption\">\n<p><em>From left: Paul Stanton; Senior Policy Deputy, Anna Hovasapian LA City Councilmember Paul Krekorian; Marc Armstrong, Commonomics USA; Ellen Brown, PBI; Wolfram Morales, Sparkasse (East German Savings Bank Association); David Jette, Public Bank LA<\/em><\/p>\n<\/div>\n<\/div>\n<p class=\"p1\">Strong steps taken by LA City Council toward a Public Bank for Los Angeles have drawn a good deal of media attention, including coverage by the\u00a0<a href=\"http:\/\/losangeles.cbslocal.com\/2017\/10\/04\/la-considers-city-owned-bank\/\" target=\"_blank\" rel=\"noopener\">local CBS affiliate<\/a>. The Ad Hoc Committee on Comprehensive Job Creation Plan began to debate the issue last Wednesday, Oct 4.<\/p>\n<p class=\"p1\">Following the successful\u00a0<a href=\"http:\/\/www.publicbankinginstitute.org\/public_banking_advances_in_los_angeles_as_receptive_city_officials_meet_with_public_bank_team\" target=\"_self\">Sept 29 meeting<\/a>\u00a0that took place between interested Councilmembers, legislative directors and Public Banking experts, Ellen Brown was invited to attend the\u00a0Ad Hoc Committee and\u00a0explain how a Bank of Los Angeles can be feasible, profitable and beneficial for the city&#8217;s residents.<\/p>\n<p class=\"p1\"><span class=\"s1\">The Ad Hoc Committee panel included the City\u2019s Attorney Office, City Administrative Officer, Chief Legislative Officer, and PBI&#8217;s Ellen Brown.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As a result of the discussion, Chairman Krekorian moved to instruct the City Attorney\u2019s Office and the CLA to report back on:<\/span><\/p>\n<ul>\n<li>the legal requirements and constraints of forming a municipal bank<\/li>\n<li>legislative and legal barriers<\/li>\n<li>regulatory barriers at federal, state and local level, and<\/li>\n<li>the benefits and potential risks of public banking model in the US and international models including the German Sparkassen example<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">In addition, the Chairman also instructed the City Attorney and CLA to report back on the potential for investing in:<\/span><\/p>\n<ul>\n<li>affordable housing<\/li>\n<li>infrastructure<\/li>\n<li>economic development purposes, including small business developments<\/li>\n<li>servicing the cannabis industry, and<\/li>\n<li>student loans<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">PBI and the Public Bank LA team are excited to see LA City Council moving forward strongly toward creating the first municipal bank in the United States. We are making history.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>posted by\u00a0PUBLIC BANKING INST\u00a0| October 10, 2017 From left: Paul Stanton; Senior Policy Deputy, Anna Hovasapian LA City Councilmember Paul Krekorian; Marc Armstrong, Commonomics USA; Ellen Brown, PBI; Wolfram Morales, Sparkasse (East German Savings Bank Association); David Jette, Public Bank LA Strong steps taken by LA City Council toward a&#8230; <a class=\"continue-reading-link\" href=\"http:\/\/occupysf.net\/index.php\/2017\/10\/12\/los-angeles-public-bank-effort-gains-steam\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6437"}],"collection":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=6437"}],"version-history":[{"count":1,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6437\/revisions"}],"predecessor-version":[{"id":6438,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6437\/revisions\/6438"}],"wp:attachment":[{"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=6437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=6437"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=6437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}