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PUBLIC BANKING INSTITUTE NEWS: SEPT 9, 2023 BREAKING: San Francisco given go ahead to start creating nation’s first municipal public bank On Tuesday, Sept. 5, San Francisco’s Board of Supervisors unanimously passed a resolution to accept the business and governance plans for both the Municipal Finance Corporation and the Public Bank. With the Board’s go-ahead, San Francisco is able to start implementing its own publicly owned financial corporation, which would then be converted into the city’s first public bank. Supervisor Dean Prestion said in a CBS Bay Area report: “As we continue to chart a path to economic recovery and a sustainable economy, the plans approved today provide a road map for our city to create the first municipal public bank in the country, a crucial strategy to ensure that our city funds are used to reverse inequities, not perpetuate them.” [view agenda] [view video (Resolution 230874)] |
BREAKING: San Francisco given go ahead to start creating nation’s first municipal public bank
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