The California Public Banking Alliance’s Executive Director Trinity Tran led the passage of the first law in the U.S. to let cities and regions form public banks, backed by our California alliance of activists. We did this not by playing by Wall Street’s rules but by organizing across the state to build people power. Trinity then helped lead lead the passing of a second public banking bill now on its way to becoming to first universal banking services program in the U.S. Now we’re building the next phase: public banks that move billions into affordable housing, climate infrastructure, and community resilience.

Read LA’s LA’s Next Urban Revolution: A Public Bank in The Urban Activist: https://theurbanactivist.com/economy/public-bank-los-angeles-urban-revolution/

CPBA’s Rick Girling writes in his latest op-ed: public banking advocates stand with the CFPB and against efforts to gut the few safeguards working people have left. Wall Street and billionaire tech moguls are coming for financial protections, but we’re not backing down. Read Rick’s piece in Stansbury Forum:

https://stansburyforum.com/2025/05/03/making-american-banking-risky-again

“Since 2012, consumers have been credited or saved more than $23 billion due to CFPB actions. The CFPB won a suit against Wells Fargo for $3.7 billion for decades of mismanagement of auto loans, mortgages, and deposit accounts harming more than 16 million Americans gaining them justice after suffering fraud. The CFPB recovered $363 million from lenders who scammed service members and veterans by violating the Military Lending Act. The CFPB instituted a rule limiting overdraft fees to $5 instead of the customary $20-35 that banks charge customers who have the least in their accounts, a projected savings of $5 billion to consumers. Unfortunately, Congressional Republicans killed this rule in April allowing banks to go back to charging whatever they want.

Organizations working to democratize finance such as the California Public Banking Alliance, the San Francisco Public Bank Coalition and Americans for Financial Reform strongly support the work of the CFPB. They are also strongly opposed to billionaire tech moguls and bankers’ attempts to defang these effective regulators and consumer advocates.” 
– Rick Girling, The Stansbury Forum

Our work is featured by world renowned progressive economist Gerald Epstein in his book Busting the Bankers Club: Finance for the Rest of Us! California has been a hub for the public banking movement, inspiring efforts nationwide. From the foreclosure crisis to the fight against Wall Street’s role in the Dakota Access Pipeline, our roots run deep in people power.

With the passage of our California Public Banking Act bill (AB 857), California became the first state to authorize municipal public banks, turning the vision of keeping public dollars local into law. AB 1177 followed, paving the way for CalAccount and universal fee-free banking access.

The book captures our work:

On Page 259, Epstein’s book captures our fight: “California has been a center of the public banking effort in the United States, and its recent successes have inspired public banking activists in other states. These efforts evolved first from the foreclosure crisis following the Great Financial Crisis in 2007-2009, and then received new energy from the grassroots movement advocating for divestment against the Wall Street banks supporting the Dakota Access Pipeline Project. The idea of divestment brought up an important question: where could local governments keep their funds instead? The lack of alternatives to Wall Street banks gave rise to the Public Bank LA initiative, which began a campaign to establish a municipal bank that would be owned by the city of Los Angeles and would manage city funds in the public interest.”

Page 260 “…this momentum was translated into the formation of the California Public Banking Alliance, a coalition of ten public banking grassroots groups across the state. In 2019, this coalition won a great victory: the state of California passed the first municipal banking legislation in the country, AB 857, authorizing the state to charter ten municipal banks over seven years. This victory set in motion actions by public banking organizations in multiple California municipalities and several regions to attempt to establish municipal and regional public banks…

“This legislation was followed by a second victory, the passage of the Public Banking Option Act (AB 1177), which, according to the California Public Banking Alliance, is ‘landmark legislation guaranteeing universal free banking access to all Californians’. AB 1177 sets into motion the creation of the CalAccount program guaranteeing all California residents access to basic banking services without fees or penalties. The California Public Banking Option Act addresses the inequities in financial services acutely felt by communities that have been hardest hit by the pandemic and recession, inequalities such as discrimination, predatory lending, and vicious spirals of debt.

“The passage of these two pieces of legislation has inspired public bank groups in other states. An important lesson from California is that a broad coalition with intensive organization and persistent activity is necessary to pass and implement such legislation over the opposition of the Banker’ Club going up against the inertia of the ideological prejudices and risk aversion characteristics of many key officers in legislatures and state and local bureaucracies.”

SEIU California 
FOR IMMEDIATE RELEASE
April 23, 2025

Contact: 
Maya Polon, maya@paschalroth.com
Maria Elena Jauregui, 818.355.5291, Spanish-language

As Trump Administration Rolls Back Consumer Protections, California Finding New Ways to Save Consumers Millions in Unaffordable Predatory Financial Services Fees

AB 1365 by Assemblymember Garcia soared through two Assembly Committees this week; the bill moves CA forward on CalAccount – a voluntary, no-fee, no-penalty banking option for Californians

Sacramento, CA – This week, the California State Assembly Committees on Banking and Labor voted overwhelmingly to pass AB 1365 (Garcia), a bill to eliminate barriers to banking for California residents through a retail banking option that is fee and penalty free. 

“Living paycheck to paycheck means choosing between handing over a huge chunk of your earnings to check-cashing shops or paying hundreds in bank penalties if your check doesn’t cover all your bills. Either way, corporations are pocketing the money I earn and that my grandkids are counting on to eat,” said Sandra Jauregui, a Jack in the Box worker from Sacramento. “I’m going to keep fighting for a fair paycheck, that puts me in a situation where these fees won’t be so harmful to me and my family, but until then and for everyone else going through what I’m going through now, the amount CalAccount would save my family will make a big difference.” 

“AB 1365 will create a first-in-the-nation banking option for Californians who have been forced out of the traditional banking system or that suffer the economic cost of paying high banking fees.” said Assemblymember Garcia, author of the bill, adding, “This retail banking option would give consumers access to a national network of ATMs as well as direct deposit and automatic bill payments.” 

“More than one in six California households either lack a bank account or depend on risky alternatives to traditional banks, like check cashers or non-FDIC-insured apps. Obscene fees are just one more way the system stacks the odds against working families. CalAccount puts money back where it belongs, in our communities, not in the hands of predatory companies,” said Trinity Tran, Executive Director of the California Public Banking Alliance.

A recent report from the Roosevelt Institute found that California has one of the highest concentrations of unbanked people in the US. The study highlighted some of the barriers that have led to these numbers including non-sufficient funds (NSF) and overdraft fees that affect customers with the lowest balances.

“California’s unbanked and underbanked households are predominantly headed by low-income Black and Brown people and single mothers who pay more for financial services while missing out on opportunities to build credit and savings. CalAccount flips the system from penalizing those who can’t afford basic banking to lifting up these low-income Californians,” said Paulina Gonzalez-Brito, CEO of RISE Economy.

“56.9% of surveyed survivors of gender-based violence (GBV) in California report having a harm-doer control their bank account. GBV is financially devastating, and financial institutions have a duty to support survivors subjected to economic abuse. Given that survivors need every dollar they earn to build their safety and economic freedom, CalAccount will create a first-of-its-kind, survivor-supportive retail banking option that could mark a significant step toward economic justice,” said Cynthia Amezcua Zamudio, State Policy and Advocacy Manager with FreeFrom.

AB 1365 puts California in a leadership position on protecting consumers from excessive fees to access their own earnings, just as Trump is dismantling the Consumer Financial Protection Bureau (CFPB), a critical consumer protection agency.  Already, a CFPB rule capping overdraft fees at just $5 is on the chopping block, putting an estimated $5 billion in consumer dollars in banks, not communities. The tear-down of the CFPB also means existing prohibitions against predatory banking are unlikely to be enforced.  

“Congress just overturned a CFPB rule that would have returned more than $5 billion in big bank overdraft fees to working people, so now it is more important than ever for California to lead on protecting consumers’ paychecks. It’s time that ALL Californians have access to basic banking services that don’t have junk fees taking a bite out of their wallets,” said Carla Sanchez-Adams, Senior Attorney, National Consumer Law Center.

“As Trump-imposed tariffs hike the costs of basic goods, resulting in employers laying workers off and wages remaining stagnant, access to fee and penalty free banking is more needed than ever. California has the ability to lift up all workers through a public banking system and lead the nation on banking affordability; we cannot miss this opportunity,” said David Huerta, President of SEIU California and SEIU United Service Workers West.

AB 1365 will now head to the Assembly Appropriations Committee. 

###

San Diego County Board of Supervisors acting Chair Terra Lawson-Remer called for bold local action in Wednesday evening’s State of the County Address, including the creation of a public bank to finance affordable housing. She stated the need for the County to step up when the federal government falls short in serving residents: “We can wait, or we can lead.”

Read the article in Patch: “County Leader Calls For Establishing Public Bank To Pay For Housing.” 

Additional press in CBS! San Diego County Board of Supervisors acting Chair Terra Lawson-Remer called on it to take a stronger role in providing for residents, including possibly establishing a public bank to pay for affordable housing, in Wednesday evening’s State of the County Address.

CBS: “State of the County addresses San Diego Supervisor’s plan to tackle national governance crisis.”

Back in 2021, supporters from across the state helped pass the California Public Banking Option Act (AB 1177). Because of your support, the CalAccount Blue Ribbon Commission was created to explore how to bring no-fee, penalty-free banking to every Californian.

This past summer, the Commission released its report and the verdict was clear: CalAccount is not only feasible, it’s urgently needed. CalAccount is backed by CA State Treasurer Fiona Ma.

Now we’re entering the final phase. AB 1365 (Garcia), the bill to implement CalAccount, is moving forward in the State Legislature and will be heard in its first committee on April 21.

As part of the CalAccount Community Coalition, we invite you to join us on Wednesday, April 16 at 2pm for a quick campaign update and call to action.

You’ll hear from the CalAccount Program’s author Assemblymember Robert Garcia and AB 1365 co-sponsors California Public Banking Alliance,SEIU California, Rise Economy, FreeFrom, and the National Consumer Law Center about what’s next, how your organization can help move this forward, and how to be part of the historic campaign to create the nation’s first state-administered universal banking services program.

REGISTER HERE FOR THE APRIL 16TH CALL:
https://us06web.zoom.us/meeting/register/4mtbNvFgT8K5PhuN_0bsOA

Learn more:calaccount.com

At the Catalyst Convening in Long Beach on March 26, 2025, hosted by the Governor’s Office of Land Use and Climate Innovation (LCI) and the California Strategic Growth Council (SGC), CPBA’s Trinity Tran participated in a funding panel to discuss the California Public Banking Act. Trinity discussed how public banks keep money local, funding climate action and affordable housing, and how a state public bank can address California’s urgent funding needs amid shifting federal priorities.

On the panel were:

Trinity Tran
Cofounder and Lead Organizer
California Public Banking Alliance

Amar Azucena Cid
Deputy Director, Community Investments and Planning
California Strategic Growth Council

Geoffrey Ross
Director of Government Services
Horne LLP

Moderated by:
Angie Hacker
California Climate & Energy Collaborative
CivicWell

The event convened local, regional, and tribal governments, community organizations, and state agencies to address climate, land use, and energy issues, co-create policies, and identify funding opportunities for local solutions.

Rashida Tlaib Highlights Our Public Banking Movement in The Guardian!

Congresswoman Rashida Tlaib and Michael McCarthy give a shout-out to our grassroots public banking movement in The Guardian!

“From Los Angeles to New York, for example, there are dozens of grassroots movements across our country building public options for finance. Democratic public banks and public asset managers are not run by a corporate board at the command of profit-driven shareholders lounging on yachts somewhere on the other side of the world. Powered by democratic mandates, they can make investments in renewable energy, affordable housing, community wealth-building, and other institutions that meet people’s real needs.”

Read the article in The Guardian: Republicans want corporate oligarchy. We need economic democracy.

Catalyst Convening: Local Solutions & Public Banking

At the Catalyst Convening in Long Beach on March 26, 2025, hosted by the Governor’s Office of Land Use and Climate Innovation (LCI) and the California Strategic Growth Council (SGC), CPBA’s Trinity Tran participated in a funding panel to discuss the California Public Banking Act. Trinity discussed how public banks keep money local, funding climate action and affordable housing, and how a state public bank can address California’s urgent funding needs amid shifting federal priorities.

The event convened local, regional, and tribal governments, community organizations, and state agencies to address climate, land use, and energy issues, co-create policies, and identify funding opportunities for local solutions.

The People’s Lobby! Public Banking for California’s Future

Our volunteer advocates from Public Bank Sacramento, San Francisco Public Bank Coalition, Public Bank East Bay, and Public Bank Los Angeles met with legislators at the Capitol to share progress on building a network of socially and environmentally responsible public banks—and rallied for CalAccount.

It was a packed day, including productive meetings with Senator Monique Limón (D–Santa Barbara) and Assemblymember Mark Gonzalez (D–Los Angeles) as well as meeting with staff from a number of other legislators.

As cities grapple with budget deficits and federal threats to local resources, the time is ripe for public banking to come into being, leveraging public funds to invest in our communities and generate revenue to strengthen community sustainability. It’s time to mobilize public money for the public good.

With nearly 8 million Californians unbanked or underbanked and federal consumer protections under threat, we need the state to lead on CalAccount, ensuring that basic banking is treated as a right. Considering that many businesses nowadays won’t even take cash payments, a free debit card is a necessity. Stay tuned for the final phase of the CalAccount campaign kickoff!

CPBA Members with Senator Monique Limon and Assemblymember and Majority Whip Mark Gonzalez.

Calling All Banking and Finance Experts!

We’re seeking experts in banking and finance to join our Technical Working Group. We’re addressing challenges related to statewide public banking efforts, including regulatory requirements, alternative structures, capitalization, and more. We’re also exploring the reintroduction of our California State Bank bill.

VOLUNTEER WITH US!

Latest CPBA Resources

1. 2025 Legislative Briefing
2. Affordable Housing Brief

Check out our movement resources page for more: https://capublicbanking.com/movement-resources.

Tracking the Crisis

We’re sharing a helpful resource from our allies at The Democracy Collaborative: TRACKING THE CRISIS – a weekly news round-up covering administrative, legislative, and other actions by the new U.S. Administration, along with responses from legal, social, political, and economic movements.

This round-up serves as a tool to navigate the rapidly shifting political and economic landscape of the United States.

Stay informed and sign up at Tracking the Crisis.

Our volunteer team of advocates from across the state: Sacramento, San Francisco, East Bay, and Los Angeles met with legislators at the Capitol to discuss our progress with building a network of socially and environmentally responsible public banks, and we rallied for CalAccount.

It was a packed day of meetings, including productive discussions with Senator Monique Limon and Assemblymember Mark Gonzalez about our progress.

With municipalities grappling with budget deficits and federal threats to local resources, public banking creates a powerful tool to build local sustainability. By leveraging public funds, we can generate revenue and resources that directly benefit California communities. It’s time to mobilize public revenue to serve the public good!

And with nearly 8 million un/underbanked Californians and threats to consumer protections, we need the state to lead on CalAccount to ensure basic banking is a right accessible to all.

See our post on Instagram and follow us on Twitter, Facebook, and BlueSky.

California Public Banking Alliance’s Trinity Tran joins ShelterBox USA for an incredible panel event in honor of International Women’s Day 2025. Featuring Senator Monique Limon, LA Fire Department Captain Sheila Kelliher, and author Mindy Budgor. Moderated by ShelterBox USA’s President Kerri Murray.

Montecito Journal: In the quiet corridors of global progress, a sobering statistic echoes: 134 years. That’s how long the 2024 Global Gender Gap Report predicts it will take to reach gender parity worldwide. It’s a timeline that stretches beyond our lifetimes, a horizon we can glimpse but never reach unless something fundamental changes in our approach.

This is precisely why ShelterBox USA’s annual International Women’s Day panel carries such weight in 2025. Now established as Santa Barbara’s longest-running event celebrating this global day, this year’s gathering transforms the Music Academy of the West into an incubator of ideas centered around the urgent theme, “Invest in Women – Accelerate Action,” and the push for greater progress.

The carefully curated panel brings together women who don’t merely discuss change – they embody it. Captain Sheila Kelliher, the first woman to serve as Public Information Officer for Los Angeles County Fire Department, represents the front lines of gender barrier-breaking. Recently seen on the Grammy stage handing “Album of the Year” to Beyoncé, Kelliher has navigated the historically male-dominated firefighting profession while establishing a Women’s Fire Prep Academy, creating pathways for future generations to follow.

Senator Monique Limón offers a complementary perspective from the legislative sphere. As Vice Chair of the Legislative Women’s Caucus and representative of California’s 21st district, Limón crafts the policies that translate aspiration into structural change, particularly in advancing economic equality through pay equity legislation.

Community activist Trinity Tran brings yet another dimension to the conversation, focusing on economic opportunities for marginalized communities. Her work on the California Public Banking Act exemplifies how expanding access to financial systems can create cascading benefits for women and other underrepresented groups.

Completing the panel, Mindy Budgor – chronicled in her book Warrior Princess about becoming the first female Maasai warrior – now leads an AI-enabled company called Nines that empowers women’s self-perception, demonstrating how technology can become a tool for changing deeply ingrained narratives.

The significance of this event transcends inspiration. As ShelterBox President Kerri Murray explains, women suffer disproportionately during disasters and conflicts – from higher death rates to significant economic losses and increased gender-based violence. Yet paradoxically, women also prove essential to community recovery efforts after disasters strike.

This duality informs ShelterBox’s approach: acknowledging women’s unique vulnerabilities while recognizing their irreplaceable strength in rebuilding shattered communities. The panel serves as both celebration of progress and clear-eyed assessment of work still undone.

For the hundreds expected to attend – many being young women early in their careers seeking mentorship and inspiration – the event promises something beyond platitudes. It offers living proof that the seemingly immovable barriers of gender inequality can indeed be dismantled, one strategic action at a time.

The free community event, sponsored by Twin Hearts: Belle Hahn & Lily Hahn Shining, invites all to register through the ShelterBox USA website and participate in this vital conversation. Because shortening that 134-year timeline requires more than passive observation – it demands collective acceleration.  

ShelterBox USA’s International Women’s Day Panel will take place on Thursday, March 6^th, from 5-7 pm at the Music Academy of the West. Visit www.shelterboxusa.org/international-womens-day to RSVP.