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On Contact: The History of Debt Forgiveness
Vote your values with your dollars: Support an SF public bank
By Zac Townsend | San Francisco Chronicle OPINION, May 7, 2018, 6:00pm We should organize San Francisco to prioritize supporting local financial institutions over big banks — some of the least ethical corporations in the United States. Almost every dollar the city of San Francisco has is stored on the balance sheet of a big […]
No public bank for Santa Fe
By Journal North Editorial Board Friday, May 11, 2018 | 12:02am Santa Fe gave the idea of establishing a public bank a shot. But a task force set up by City Hall has determined that startup costs, and “daunting legal and regulatory obstacles” would be too much to overcome. “If limited to the city of Santa […]
Santa Fe task force: Try for state public bank, not a city one
By T. S. Last / Journal Staff Writer Wednesday, May 9th, 2018 at 9:40pm SANTA FE, N.M. — Santa Fe is not ready for a public bank, but the city should work with the Legislature and state officials to look into creating a public bank at the state level that Santa Fe and other cities […]
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 Bank of North Dakota, would accept deposits from local governments […]
Task force won’t back city-owned public bank for Santa Fe
By Tripp Stelnicki | The New Mexican | March 20, 2018 The city’s public bank task force will not recommend that the municipal government pursue a Public Bank of Santa Fe, according to a draft of the panel’s final report. Instead, after finding the establishment of a public bank in the state capital would face […]
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 his platform for his gubernatorial run later that year, it included a plank for […]
In Massachusetts, a call for a public bank to serve pot firms
by LAURA ALIX | americanbanker.com | 2/22/18 With Massachusetts only months away from allowing the sale of pot for recreational use, the state’s top cannabis regulator is urging policymakers to consider creating a public bank to serve growers and dispensaries that might otherwise have nowhere else to bank. As in many other states where marijuana is […]
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 governments: The interest rates on their loans were about to […]
Task Force assembled to lead San Francisco toward a public bank
by JOSHUA SABATINI | sfexaminer.com | 2/4/18 San Francisco has assembled a 16-member task force to study launching a public bank to fund affordable housing development, low-interest loans for low-income residents and cutting ties with the Wall Street banks that do not live up to The City’s social responsibility principles. The Municipal Bank Feasibility Task Force […]
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Episode: Everyone deserves a public bank
“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
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