California Public Bank Law in the News

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

It’s Not Just a Great Idea: It’s the Law!

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!

AB 857 Heads to Floor Vote; Bernie Endorses!

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!

Progress on AB857, Public Bank Enabling Legislation! Plus Great Media Attention

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

New Public Banking Articles from Ellen Brown and Nomi Prins

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

California Public Banking Alliance Takes Sacramento by Storm

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