California State Public Bank Bill AB 310 Moves Forward in 2021
“… the bill is likely to be passed and signed into law during the next legislative session in 2021.”
by Brett Garrett, Rick Girling, Susan Harman, Debbie Notkin, Trinity Tran
Medium – August 7, 2020
AB 310: A Just Recovery from COVID-19
“In addition to helping California meet the immediate needs of a just recovery, a State public bank would place us on firm financial footing for serious climate action in the coming years ….”
by John Conway, Ph.D.
Romero Institute – July 24, 2020
California needs a public bank to help economy recover from COVID-19
“By unlocking just 10% of the Pooled Money Investment Account, money that would otherwise be invested in big out-of-state corporations, AB 310 releases a deluge of recovery investments into our state economy.”
by Assemblymember Miguel Santiago
CalMatters – July 23, 2020
Could a State-Owned Bank Help Strengthen California’s Recovery Efforts?
“The alliance built on a previously stalled proposal to convert the state loan fund into a bank, focusing in particular on how the bank could meet immediate needs during the recovery period.”
by Oscar Perry Abello
Next City – July 21, 2020
California Bill to Establish Nation’s Second Public Bank Applauded as ‘Historic Challenge to Wall Street Domination’
“We can structure a bank that actually is accountable to the people and does what the people want it to do.”
by Jake Johnson
Common Dreams – July 10, 2020
State bill would establish California public bank for coronavirus relief
“We already have an IBank, and it already has the purpose to help the California economy — let’s restructure it into a state bank.”
by Laura Waxmann
San Francisco Business Times – July 10, 2020
Bill to create state public bank could jumpstart SF efforts
“This is an opportunity for us to reinvest California dollars in California communities.”
by Ida Mojadad
San Francisco Examiner – July 10, 2020
Assembly Bill Would Create State Bank To Help Local Governments, Small Businesses During Pandemic
“We’re essentially filling a void where Wall Street banks and the federal government have failed.”
CBS SF Bay Area – July 10, 2020
Bill calls for a state public bank
“Pop quiz! What’s the only state to have its own public bank?”
Capitol Alert
Sacramento Bee – July 10, 2020
A State Bank For California? An LA Lawmaker Hopes It Could Help With Pandemic Recovery
“The bank would fill a void where Wall Street and the federal government have failed small businesses and underserved communities.”
by Lita Martinez
LAist – July 9, 2020
Additional Public Banking press
‘After All, It’s Our Money’: Global Climate Campaigners Call for Public Banks to Fund Just Recovery and Green Transition
“Activists argued that public banks’ ambitious commitments in support of an internationally just transition away from fossil fuels and toward renewable energy can help harness resources in ways that disempower the oil, gas, and coal industries while creating a more egalitarian and sustainable world that benefits workers, communities, and the environment.”
by Kenny Stancil
Common Dreams – October 12, 2020
The Disaster of Privatized Banking in Mexico
“Since the 1990s, Mexico’s banks have been privatized, bailed out, and sold off, resulting in a massive upward transfer of wealth.”
by Kurt Hackbarth
Jacobin – October 12, 2020
To Provide Public Alternative to “Predatory” Wall Street Banks, Sanders and Gillibrand Unveil Postal Banking Act
“We basically want to put the predatory lenders out of business.” (video)
by Jake Johnson
Common Dreams – September 17, 2020
Amid USPS’ Unprecedented Woes, Calls for Postal Banking Reemerge
“Champions of the idea argue that it would provide low-income consumers with an accessible financial option — not to mention a source of much-needed revenue for USPS”
by Alexander Vuocolo
Cheddar – September 8, 2020
The U.S. Needs a Public Low-Income Bank
“… if private banks cannot adequately and inexpensively serve low-income consumers, a public bank should.”
by Nik Milanovic
Forbes – September 4, 2020
Postal Banking: Brought to You by JPMorgan Chase?
“From a financial inclusion standpoint, JPMorgan Chase’s proposal accomplishes nothing — except for giving an already large and powerful bank an unfair advantage”
by Raúl Carrillo
Common Dreams – August 30, 2020
The U.S. Needs Banking-as-a-Public-Service
“Why isn’t there a national, government-owned consumer bank that offers everyone access to basic services like savings and checking?”
by Nik Milanovic
Forbes – August 26, 2020
After the Coronavirus Pandemic, Let Public Banks Lead the Rebuilding
“Public banks not only put money to good use, but they generate revenue for cash-strapped governments.”
by Sylvia Chi and Sushil Jacob
Nonprofit Quarterly – August 18, 2020
Santa Cruz explores regional public banking formation
“A local volunteer group hoping to spark movement toward the creation of banking based more on ideals than the bottom line, and with a decidedly local focus, is gaining momentum.”
by Jessica York
Santa Cruz Sentinel – July 22, 2020
‘Fast, simple, easy’: Bank of North Dakota boosts coronavirus business aid
“Some officials believe the bank has given North Dakota a leg up in responding to the crisis.”
by Jack Dura
Bismarck Tribune – July 19, 2020
Public Banking can help bridge the racial wealth gap in the post-pandemic recovery
“By using public money to create local funds, public banks can reverse decades of racist disinvestment to repair Black and Brown communities hardest hit by the COVID-19 recession.”
by Ameya Pawar and Harish I. Patel
The Chicago Reporter – July 7, 2020
Create a Public Option for Simple Banking
“Six percent of Americns have no bank account at all.”
by Bryce Covert
The American Prospect – September 25, 2019
Also Relevant
Ellen Brown’s letter to Senator Mike McGuire
July 24, 2020
Here’s How We Grow California’s Economy for Everyone
(campaign piece that advocated for a California State Public Bank)
by then-candidate Gavin Newsom – February 8, 2018