California Public Banking Alliance

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.

Visit the California Public Banking Alliance website: https://californiapublicbankingalliance.org.

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By: Dharna Noor. Dharna interviews Phoenix Goodman of Public Bank LA. The Real News Network. DHARNA NOOR: Welcome to The Real News Network, I’m Dharna Noor. A charter amendment that will go before ...

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By: Trinity Tran & Chris Roth. Occupy.com. The Los Angeles Times editorial board published a denouncement of Charter Amendment B on September 20, 2018. This is a summary of what they got wrong. Leading ...

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By: Emily Alpert Reyes and James Rufus Koren. Los Angeles Times. Los Angeles voters will decide next month whether to nudge along the budding movement to create a public bank owned by the city. The ...