Public banking: A Year of a Major Shift, Support Our Important Year Ahead

Public Banking Institute Year-End Update: December 12, 2017

Today, we are delighted to see the following states and cities move forward quickly toward establishing a Public Bank. After years of educational outreach and tireless work, PBI has been fortunate to make presentations, meet with legislators, or provide guidance and resources to almost all of these efforts.

We’re hoping you will continue your much appreciated support with a year-end contribution so we can advance our work in the important year ahead: http://www.publicbankinginstitute.org/donate

San Francisco could become the first city in the nation to establish a Public Bank. Supervisors Malia Cohen and Sandra Fewer are rapidly advancing the idea and applications are open now for the City’s Task Force.

PBI met with LA City Councilmembers as the City implements their resolution to divest from Wells Fargo. PBI also made central presentations in a powerful Bring On the Power of a Public Bank: People’s Forum in May, which led to more advances. We’ve been working with many strong grassroots groups Bernie Sanders Brigade, Yes CA Public Bank, Divest LA, Revolution LA, and California for Progress.

Friends of Public Bank of Oakland have been on the forefront as these cities agreed to jointly fund a feasibility study.

PBI, Commonomics and Revolution LA all helped with presentations to the State Treasurer John Chiang who has recommended studying a state bank as a potential solution for the cannabis industry’s banking needs.