California Cities and Counties Unite for Public Banking

California Public Banking Alliance, Medium. Cities and counties across California are stepping onto the public banking bandwagon! From San Diego to Eureka, 17 cities and counties have passed resolutions endorsing Assembly Bill 857, joining with the California Public Banking Alliance in pushing for state legislation to create a state sanctioned charter for public banks.

City dwellers in San Francisco and Los Angeles agree that the time has come for the billions of tax dollars collected by municipalities to be put to use building affordable housing in the communities that pay the taxes. Berkeley and Beverly Hills want public funds to be divested from harmful fossil fuel companies and rerouted to small businesses badly in need of capital to succeed. People of Richmond, Long Beach and Oakland want to enable their elected officials to put their money in financial institutions accountable to the public, not to distant shareholders.

Continue reading on Medium.