The public bank effort in Oakland, California continues full steam ahead! Last week, the Oakland City Council voted unanimously to accept the completed feasibility study and examine necessary next steps forward.
Adding to the momentum, Alameda County Treasurer Henry Levy stated not only his support for the East Bay Public Bank, but also his desire to take a leadership role in completing the business plan needed to apply for a bank charter through the State of California. For an elected official to make that sort of commitment represents a giant step forward for the East Bay Public Bank project. Oakland, Berkeley, Richmond, and Alameda County all contributed funds for the feasibility study.
The Friends of the Public Bank of Oakland (now renamed Public Bank East Bay) wrote a response to the feasibility study, which you can read here.
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