This post will be updated regularly as new articles are published. “How a Public Bank Could Free S.F.’s Money from Wall Street,” by Ida Mojadad in SF Weekly, October 16, 2019 “California Governor Signs Bill Allowing the Establishment of Public Banks,” by Marivic Cabural Summers in USA Herald, October 4, 2019 “A Century in the … Read moreCalifornia Public Bank Law in the News
On October 2, 2019, California Governor Gavin Newsom’s office announced that the governor has signed AB857, making California the first state in U.S. history to create a roadmap for local public banks. In other words, WE DID IT! This completely grass-roots victory was fueled by: Two excellent co-authors of the bill, Assemblymember David Chiu of … Read moreIt’s Not Just a Great Idea: It’s the Law!
To The Governor’s Desk! AB 857, the bill enabling local public banking has passed both California state houses! On Friday, September 13, we crossed the finish line. The bill now goes to Gavin Newsom, who has expressed public support for public banking in the past. He has until October 13 to sign or veto; if … Read moreLEGISLATIVE VICTORY!
On September 11, 2019, AB857 passed the California Senate floor vote, with more votes than it needed! On September 12, the California Assembly will vote on the amendments to the bill, all of which are likely to be acceptable to every assemblymember who voted Yes in June, and we hope more. We’re asking for calls … Read moreTwo Small Steps from Statewide Change!
Senate floor, Assembly floor to approve amendments, Governor Newsom’s signature. We’ve cleared seven hurdles (three Assembly committees, Assembly floor vote, three Senate committees). The finish line is in sight. Dozens of us were in Sacramento on Monday, lobbying for AB857–enough advocates to impress our bill’s co-authors. Aside from many meetings with legislators, we also had … Read moreAB 857 Heads to Floor Vote; Bernie Endorses!
On July 28, 2019, the Bank of North Dakota turned 100. This venerable and extremely successful public bank forms a major part of the model for contemporary public banking. Thomas M. Hanna and Adam Simpson commemorate the Bank of North Dakota, and our current movement, in In These Times: That a public bank is resonating … Read moreBank of North Dakota Celebrates Centennial
On July 3, just before the long weekend, AB857 passed through the California State Senate Governance & Finance Committee, having passed the Banking & Finance Committee two weeks earlier. The remaining steps for the bill are the Senate Appropriations Committee (in August, after the senators take their vacation), the Senate floor vote, and the governor’s … Read moreProgress on AB857, Public Bank Enabling Legislation! Plus Great Media Attention
More organizations are signing on every day. Have an organization that might want to support? Email the California Public Banking Alliance or contact us. If your organization has questions, we’d love to answer them.
One thing public banking activists can say: we have the best writers and thinkers supporting us Here’s Ellen Brown, one of the key foremothers of the public banking movement, saying “The Public Banking Revolution Is Upon Us.” Most of her article is about SB 528, a bill to transform California’s state “infrastructure bank” into a … Read moreNew Public Banking Articles from Ellen Brown and Nomi Prins
On April 7, about 20 members of the California Public Banking Alliance met in Sacramento to prepare for an intensive lobby day on April 8. The group discussed the history and current situation with our statewide bill, AB 857, which is enabling legislation for cities, counties, and regions of California to form public banks. The … Read moreCalifornia Public Banking Alliance Takes Sacramento by Storm