The Governance Committee of Public Bank East Bay has completed and released a draft of comprehensive recommendation for governing the Public Bank of the East Bay. Note that we completed this with Oakland, rather than the whole East Bay in mind., so it currently has our old title and our old branding. This report is being revised to take into account the change to an East Bay focus, as well as some regulatory concerns we learned about after we completed this draft.
We stand behind:
–strong progressive values,
–a Board of Directors with a majority of members drawn from the community, as well as representation from various experts,
–Board decisions by consent, rather than simple majority rule
–an Academy to train directors (based on the practice of the Sparkasse public banks in Germany)
–expansive and community-centered loan policies.
and much more.
Read the full report here. We hope that other jurisdictions considering public bank governance issues will draw upon our research and conclusions, and provide us with feedback so we can continue to refine our recommendations.