THE PEOPLE V WALL STREET: CALIFORNIA’S PUBLIC BANKING SHAKE-UP

November 5, 2019. Glenn Daigon with Who.What.Why talks with Assemblymember David Chiu and the Alliance’s Trinity Tran. From successful legislating to overcoming the clout of big finance, California’s new public banking law is reverberating across the country.

For only the second time in 100 years, a people-powered coalition overcame the stiff opposition of the banking lobby to successfully pass a law that legalizes public banking. Governor Gavin Newsom (D-CA) signed a bill into law last month allowing California cities and towns to establish public banks.

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