PUBLIC BANKING WORKS

Public Banking Works is ...

Public Banks are...

And Are Not...

• 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
• 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.

Interested in Reading More? 

Mar 27, 2017
"Banks and states can rely" on Cole and FinCen memos, even in Trump era, according to former DOJ official at #Cannabis Banking Working Group
Mar 27, 2017
At Working Group, former DOJ official testifying that federal-state interplay reflected in Cole and FinCen memos are "best of both worlds."
Mar 27, 2017
The sole problem is the unwillingness of private banks to take cannabis revenue. That unwillingness is the source of all the security probs.
Mar 27, 2017
The consensus of everyone at the #Cannabis Banking Working Group is that dispensaries are law-abiding and want law-abiding communities.
Mar 27, 2017
#Oakland reports #cannabis businesses paying taxes w/ "backpacks full of cash" because banks won't take money. #publicbanking is solution.