LA could vote for a Public Bank in November

Public Banking Institute

Public Banking Institute News: June 28, 2018

Los Angeles public bank coalition

Los Angeles City Council decides to ask the public if they want a Public Bank

Los Angeles City Council on Tuesday, June 25 voted unanimously to start the process to put a measure to create a Public Bank for the city of LA on the ballot in November. City Council President Herb Wesson brought forward the motion, which was supported by a roomful of Public Bank advocates, including PBI Chair Ellen Brown and Public Bank LA / Divest LA leaders Phoenix Goodman and Trinity Tran, whose group has been instrumental in pushing City Council forward.

Public Banking advocate and grassroots organizer Carlos Marroquin from the Bernie Sanders Brigade and Public Bank LA said, “It’s important for us to start looking for other options to get away from our community’s addiction to and dependency on Wall Street’s money, which has brought nothing but despair and fraud.”

The motion goes next to the Rules Committee on June 29 (see event below), and then to the full council for a vote. The measure must receive final approval by July 3 to make the fall ballot.

[read more and see more photos]


VIDEO: Laura Flanders interviews #PublicBankNYC campaigners about creating a Public Bank for public good

Laura Flanders interviewed some of the advocates who recently launched the #PublicBankNYC campaign on her recent show.

What would students in debt, worker coops, and entrepreneurs stand to gain from a public bank in the financial capital of the world? This week, putting communities over commodities w/ leading figures in the fight for a new economy for working people.

“Is a Public Bank in the financial capital of the world possible? And how will that public bank help worker co-ops, students, entrepreneurs, and more? Deyanira del Río from the New Economy Project, Linda Levy of the Lower East Side People’s Federal Credit Union and Enlace’s Cindy Martinez on why it’s more needed than ever — and what they’re doing to make it happen. Then, a look at the Public Bank NYC’s recent launch action with New York City organizations, including New York Public Interest Research Group; NY Communities for Change; and The Working World.”

[watch the video]

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Coming Public Banking Events

San Francisco, CA | June 28, 3:00pm – 5:00pm PT | SF Public Bank Now – Municipal Bank Task Force June Meeting
1 Dr Carlton B Goodlett Pl, San Francisco, Ca 94102, Room 305. Treasurer José Cisneros is convening a Municipal Bank Feasibility Task Force as recommended by the Board of Supervisors. Come out and make public comment in support of the creation of a public bank that is focused on equity, social, racial, economic and environmental justice. Facebook event here.

Los Angeles, CA | June 29, 9:00am PT | LA City Council Rules Committee meeting
LA City Hall 200 NORTH SPRING STREET, LOS ANGELES, CA, Room 340. The Rules Committee meets to discuss the motion to put a measure to create a Public Bank for Los Angeles on the November ballot. Specifically relative to submitting to the voters a proposed Charter Amendment that addresses one impediment to establishing a municipal bank, and calling a Special Election on the measure and consolidating it with the State General Election to be held on Nov. 6, 2018. More info and agenda here.

North Queensland, Aus | July 14 – 15 | A New Economy for North Queensland – 2 day symposium
Amaroo on Mandalay, 61-79 Mandalay Avenue, Nelly Bay, Magnetic Island, Nelly Bay, Aus. The 2018 “A New Economy for North Queensland” Symposium will bring together thinkers and doers, people exploring and practicing new, more sustainable ways of doing things in areas such as: food and energy production, consumption, social enterprises, travel, the built environment, income distribution and population. It will be an opportunity to look outside the box, to creatively question our traditional ways of doing things and explore new options for a fair, sustainable and thriving region. Facebook event here. Conference program. More info here.

Washington D.C | July 25, 6:30pm – 8:30pm ET | DISB Meeting on proposal to establish a Public Bank in the District
Location TBD. Join the Department of Insurance, Securities and Banking for a series of public meetings on a proposal to establish a public bank in the District of Columbia. The purpose of the public meetings is to educate District of Columbia residents, small business owners and other stakeholders on the core tenets of public banking and provide relevant information on public banking from other states and municipalities. Attendees can provide feedback on topics such as the bank’s purpose, mission and services. More info here.