Public Banks are...

• Viable solutions to the present economic crises in US states.
• Counter-cyclical, meaning they are capable of reducing the negative impact of recessions, because they can make money available for local governments and businesses precisely when private banks decrease lending.
• Potentially available to any-sized government or community able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate transparently according to applicable banking regulations.
• Able to offset pressures for tax increases with returned credit income to the community.
• Ready sources of affordable credit for local governments, eliminating the need for large “rainy day” funds.
• Required to promote the public interest, as defined in their charters.
• Constitutional, as ruled by the U.S. Supreme Court

And Are Not...

• Operated by politicians; rather, they are run by professional bankers.
• Boondoggles for bank executives; rather, their employees are salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.
• Speculative ventures that maximize profits in the short term, without regard to the long-term interests of the public.
3 weeks ago
RT @tran_scends: So proud of our mighty coalition of superheroes. We delivered public comment today in support of City Council's motion ame…
3 weeks ago
With a unanimous vote, LA City Council places a Public Bank of Los Angeles on the ballot. #HopeIsOnTheBallot……
3 weeks ago
Momentous development...happening on Friday 6/29!…
Jun 6, 2018… @DCPublicBanking @Revolution_LA_ @OaklandBank @publicbankla…