We have the opportunity now to build a new alternative banking system through locally-controlled socially and environmentally responsible public banks, enabling cities and counties to recapture public dollars and have a say over the financing of our own communities.
Support the California Public Banking Alliance bill for local public banks, enabling cities and counties to form their own banks, guiding public banks under existing law. The CPBA bill will instruct the Department of Business Oversight on how to oversee city and regionally-owned banks, addressing risk, insurance, and a prohibition to compete with credit unions and community banks, to strengthen local banking.
Now is our moment in history to pave the way for a strong, transparent, and compliant institution that will reinvest in housing, transportation, clean energy, and jobs for the people of California.
Thank you for your support.