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What’s driving the push for more public banks?
March 25, 2018 – American Banker, Laura Alix Call it Bank of North Dakota envy. Whenever they are frustrated with the services provided by traditional banks — or lack thereof — public officials will float the idea of creating a government-owned bank that, similar to...Public banking gets a toehold in New Jersey
At the 2016 Princeton Community Democratic Organization annual picnic, a pair of activists approached Phil Murphy with an unconventional idea: A public bank for New Jersey. Murphy, a longtime banker with Goldman Sachs, heard the activists out. Then, when he announced...Big Banks Got Huge Tax Cuts, Then Hiked Cities’ Interest Rates
by MARTIN Z BRAUN and BENJAMIN BAIN | Bloomberg | 2/15/18 As U.S. banks were tallying up the billions of dollars in extra profits they’ll reap from the sweeping tax cuts signed into law by President Donald Trump, they were quietly delivering unwelcome news to local...Wells Fargo’s estimate for unauthorized accounts jumps 67%, to 3.5 million
By Samantha Masunaga and James Rufus Koren | Los Angeles Times | August 31, 2017 Wells Fargo & Co. said Thursday it may have created as many as 3.5 million checking, savings and credit card accounts without customers’ authorization over the last eight years — a...Mayor, council reluctantly keep Wells Fargo as city’s bank
By Tripp Stelnicki|The New Mexican|August 31, 2017 City councilors on Wednesday approved a four-year contract extension with Wells Fargo as the city’s fiscal agent. Councilors, both for and against the measure, expressed trepidation over the extension through 2021,...
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Episode: Everyone deserves a public bank
Join those who’ve endorsed a Public Bank for New Mexico
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
Retake Our Democracy