Housing, battling racism and a municipal bank top agenda for L.A. council president

Los Angeles should explore whether to create a municipal bank that would finance affordable housing and throw its doors open to the cannabis industry, City Council President Herb Wesson said Tuesday. read more…

Mayor makes picks for Public Banking Task Force

The task force will help determine requirements to establish a public bank. The nine-member panel must complete its work within six months of its first meeting, possibly making the idea of a public bank a major campaign issue in next spring’s mayoral election. read more…

Santa Fe will have task force to explore public bank idea

On Wednesday, the City Council unanimously approved a resolution that would create a nine-member task force appointed by the mayor and approved by the governing body within the next 60 days. The panel will report back to the council after six months with its findings so the council can “make an informed decision about submitting an application for a New Mexico Bank Charter for a Public Bank of Santa Fe.” read more…

City looks to give community banks, credit unions slice of its business

The city’s banking agreement with Wells Fargo ends Dec. 31, and the request issued by the city Finance Department allows for a menu of banking and finance services, with the smaller chunks aimed at attracting a more diverse group of providers. read more…

What a State-Owned Bank Can Do for New Jersey

Phil Murphy, the leading Democratic candidate for governor of New Jersey, has made a state-owned bank a centerpiece of his campaign. He says the New Jersey bank would “take money out of Wall Street and put it to work for New Jersey – creating jobs and growing the economy [by] using state deposits to finance local investments … and … support billions of dollars of critical investments in infrastructure, small businesses, and student loans – saving our residents money and returning all profits to the taxpayers.” read more…

Public Banking — Funding Local, Sustainable Economies