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With a city-owned bank, our revenues stays within our city. By cutting out Wall Street as the middle man, banking profit gets reinvested back into our communities.

The Bank of Los Angeles would be able to accept city deposits and manage all the purchasing and reporting needs the city requires. It would then make targeted loans to the city itself, as well as sectors of the local economy where capital would make a measurable difference in the lives of Angelenos. The bank would be answerable to an independent board of governors made up of elected officials, responsible financial and banking experts, and members of the community including advocates for affordable housing and climate change mitigation. It would follow a strict mandate to safeguard and grow the city’s assets through loans to local businesses and municipal entities. It would operate according to a charter that enables it to act in the interest of the city and its people, and not for private shareholders or executives. A bank whose employees are public servants, and whose mission is to improve the lives of regular Angelenos.

CHARTER AMENDMENT B is championed by Los Angeles City Council President Herb Wesson and unanimously approved by L.A. City Council. It is supported by a broad-based coalition including labor unions, social justice organizations, environmental groups, and local community organizations.

Socially and environmentally responsible municipal public banks are endorsed by both the Los Angeles County Democratic Party, representing 2.4 million registered Democrats, and the California Democratic Party, representing 8.7 million registered Democrats.

YES! The Bank of North Dakota, the only existing publicly-owned bank in the U.S., is more profitable than Goldman Sachs, has a better credit rating than JPMorgan Chase, and was the only state not deep in red ink as a result of the 2008 financial crash. 

If you are part of an organization and would like to endorse Charter Amendment B to enable the City of Los Angeles to explore the creation of a municipal public bank, please fill out our Endorsement Form.

Public Bank LA is an entirely volunteer-run group and we need your help to create the nation's first munibank! Join the campaign and be part of history-in-the-making!

Fill out our Volunteer Form.

On November 6, 2018, vote YES to rebuilding and regenerating our communities, YES to supporting local businesses, YES to protecting our environment, and YES on CHARTER AMENDMENT B!

Public Bank LA Flyer.

Yes on B Flyer Front. Yes on B Flyer Back.

Official Ballot Measure Argument in Favor of B.

Los Angeles City Council Motion to Amend the City Charter.

Public Bank LA Charter Amendment B Resource Booklet.