By November 2018, we had persuaded the City of Oakland to fund — with contributions from Richmond, Berkeley, and the County of Alameda — a feasibility study for a public bank. The study deemed a public bank feasible, but city staff did not recommend moving forward. Notwithstanding that obstacle, the City Council voted unanimously in favor of examining next steps. At that point, we decided to rename ourselves as Public Bank East Bay and work more directly with the County of Alameda, which we are doing now. Watch our Latest News for details.
We are meeting regularly, have almost 1500 people on our mailing list in support of our goals (to join the mailing list, contact us). We are broadening our coalition by adding to our list of Oakland and East Bay organizations that support our efforts.
In 2018, we joined the California Public Banking Alliance. AB 857, the Alliance-sponsored bill enabling local public banks in California, has passed ALL of its legislative hurdles, and we hope Governor Newsom will sign it into law before mid-October 2019.