Los Angeles City Council throws its support behind state-level municipal public bank bill AB 857
April 4, 2019 (publicbankinginstitute.org)
On Friday March 29, Los Angeles City Council President Herb Wesson and Councilmembers Paul Krekorian and Paul Koretz introduced a motion to support AB 857, state legislation facilitating the establishment of public banks by cities and counties. The state bill was introduced March 19 by Assemblymembers Miguel Santiago and David Chiu and is sponsored by California Public Banking Alliance.
Strong support from a city with the influence of Los Angeles is a significant step in building momentum to pass the state bill. Public bank winds are building quickly in California, and it’s said that “where California goes, the country follows.” California’s success could set the stage for public banking to sweep across the rest country.
Activists head to Sacramento April 8 for a public banking lobby day
The California Public Banking Alliance is organizing a public banking lobby day in Sacramento on April 8 in support of AB 857. You can register for this action here.
Advocates from San Francisco, Oakland, San Jose, Santa Rosa, San Diego and Los Angeles will talk to lawmakers and staff face-to-face about public banking. A bus from Los Angeles to Sacramento will be available.
Details from Public Bank LA: Join us for an action-packed day of citizens’ lobbying as we make the rounds to legislative offices to make our voices heard. Yes to public banking and yes to AB 857!
