by Anthony Colombo | Feb 12, 2017 | Local Economies, National, News, Public Bank, Public Banking
Seattle lawmakers will take a final vote Tuesday on whether to stop banking with Wells Fargo over ethical concerns. The ordinance already received support from eight out of nine City Council members at the committee level. Under the ordinance, the city could not work...
by Anthony Colombo | Feb 12, 2017 | Local Economies, National, News, Public Bank, Public Banking
Oakland residents are showing growing interest in a plan to establish a public bank, which would provide an alternative to handing millions of dollars of city money to Wall Street each year. Residents have been studying the idea and organizing support for it for a...
by Anthony Colombo | Jan 27, 2017 | National, News, Public Bank, Public Banking
Americans could save $1 trillion over 10 years by financing infrastructure through publicly-owned banks like the one that has long been operating in North Dakota. President Donald Trump has promised to rebuild America’s airports, bridges, tunnels, roads and other...
by Anthony Colombo | Jan 26, 2017 | National, News, Public Bank, Public Banking
Since the 2008 financial crisis, the idea of creating a public bank has been proposed in dozens of states across the country. Cities including Santa Fe, Philadelphia, San Francisco, and Seattle are also exploring the option. Progress has been slow and the only state...
by Anthony Colombo | Jan 21, 2017 | Local Economies, National, News, Public Bank, Public Banking
On Nov. 4, Seattle City Council member Kshama Sawant proposed legislation to allow credit unions and community banks to manage the deposits of the city, deposits that are currently managed by Wells Fargo. Wells Fargo has been caught defrauding customers while giving...
by Anthony Colombo | Jan 18, 2017 | Commercial Banking, National, News, Public Bank, Public Banking, Santa Fe
Come the fall, the city government could sever ties with a bank that’s helping to fund the Dakota Access Pipeline. Santa Fe in 2013 approved a four-year contract with Wells Fargo, agreeing to pay the bank about $449,000 over the period for fiscal agent services. But...