Establish a socially and environmentally chartered municipal Public Bank of Los Angeles to develop the local economy and provide fair and equitable financial services for the city, businesses, and residents.

Our ideology

This is much bigger than just creating a new type of bank. This is about consigning predatory capitalism to history. This is about ending boom-bust cycles, predatory lending, and the funding of destructive projects. This is about investing our money into the wealth and health of local communities and the environment. This is about sparking a radical reformation of the system at its core. 

Lasting Change

It’s about creating local self-determination and an economy that is run explicitly in the name of people and planet. Economics, in this new system, will not be about self-service but about public service. Instead of private shareholders, we the people are the shareholders. Instead of bankers as profiteering speculators, they would be public servants appointed by the people and accountable to the people.

our vision

We are not only advocating for a public bank, we are advocating for a bank that is enlightened in its values, ambitious in its vision, and revolutionary in its aims. A bank that regenerates capital in a responsible way for our communities to thrive. The Municipal Public Bank of Los Angeles will consciously adhere to the principles of economic prosperity, environmental protection, and social justice. 

In April 2018, we formed the California Public Banking Alliance (CPBA) with other grassroots organizations in California working to create socially and environmentally responsible municipal and regional banks.

In addition to Los Angeles, public banking organizations from several cities across the state have joined including: San Francisco (Public Bank SF), Oakland (Friends of Public Banking Oakland), Santa Rosa (Friends of Public Banking Santa Rosa), Santa Barbara, Eureka (Cooperation Humboldt), with more cities on the way!

The California Public Banking Alliance is a strategic alliance with the central goal of passing a bill in the State Legislature that creates a special license for charter cities to form public banks - a uniform regulatory structure with an explicit socially and environmentally responsible charter. This bill instructs the California Department of Business Oversight to issue a special license for charter cities to form their own banks, and create a framework for a network of public banks in California to be publicly owned, local, ethical, to work with community banks and credit unions rather than compete with them, and guaranteed by a public deposit. We see this as the most clear-cut path forward. Instead of individual cities pursuing their own course for a bank, the public bank license creates a standardized approach for charter cities to create their own banks.
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