Tlaib, Ocasio-Cortez Introduce Legislation Enabling Creation of Public Banks

Congresswomen Rashida Tlaib (MI-13) and Alexandria Ocasio-Cortez (NY-14) introduced the historic Public Banking Act, which allows for the creation of state and locally administered public banks by establishing the Public Bank Grant program administered by the Secretary of the Treasury and the Federal Reserve Board which would provide grants for the formation, chartering and capitalization of public banks. 29 organizations that have long advocated for the public banking system it would make possible also support the legislation, including the California Public Banking Alliance (CBPA).

Read Congresswoman Tlaib’s press release: https://tlaib.house.gov/tlaib-aoc-public-banking-act.