Oakland, CA - Public Banks Funding Renewables

Oakland, CA - Public Banks Funding RenewablesSept 25th 7-9 pm at City Hall (3rd Floor), the people of Oakland will learn how German Public Banks Power Renewables. 

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Katherine Updike (far right) Discusses Santa Fe’s Feasibility Study to Task Force

New Ground Broken in Santa Fe

New Public Banking ground was broken on September 6th in Santa Fe, New Mexico. For all those who are trying to follow what is happening with Santa Fe’s Public Bank Task Force, we’ll attempt to provide summaries in this newsletter.

HERE’S WHAT YOU NEED TO KNOW: The Task Force holds public meetings every third week (Wednesdays from 4:30-6:30pm), 500 Market Station, City of Santa Fe. The next meeting is Sept 27th.

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All the World’s Money and Markets in One Visualization

All the World’s Money and Markets in One VisualizationFrom our friends at The Money Project. The amount of Big Money is hard for all of us to understand. Did you know there was also narrow money and broad money? We know about derivative money, but how big is it really? In this case, a picture is worth a thousand words.

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New Front in the Campaign for Public Banking

As Labor Day ApproachesWinnebago County resident David Soll moderates a Skype conference call with residents and PBI founding director, Mike Krauss, in the Rockford Public Library.

Winnebago County, IL sits due west of Chicago on the Wisconsin border. It is the sixth largest county in Illinois, behind Chicago and its immediate suburbs. It has a population of just under 300,000. 

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Public Banks and Credit Unions

Marc_Armstrong.pngAs Labor Day approaches, it’s a perfect time to share our colleague, Marc Armstrong’s thoughts on Public Banks and Credit Unions. 

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Australian Banks-Serving Private Interests

Australian Banks-Serving Private InterestsThe banking industry’s disinterest in serving public needs is also a problem in Australia. 

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How It’s Getting Done in Santa Fe

Santa Fe City Council Says Yes

Volunteer Public Bank Task Force Members:  Kelly Huddleston (attorney), Robert Mang (retired business owner-environmental/ social impact), Adam Johnson (Finance Director, City of Santa Fe), Darla Brewer (retired bank regulator), David Buchholtz (attorney government finance), Wayne Mueller (retired banker), Elaine Sullivan  (citizen advocate), Judy Cormier (retired chief bank compliance officer), Randy Hibbin (retired banker), Michelle Lis (task force facilitator, not shown).

On August 15th, Santa Fe’s Public Bank Task-Force held its first meeting at the Santa Fe Convention Center. They formed five sub-committees that will investigate governance, legal, regulatory, and capitalization and financial questions required by the New Mexico De Novo Bank Charter application.

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Five LA City Council Members Introduce Public Bank Motion

File courtesy of Wikimedia Commons

BREAKING!!! July 27th - Los Angeles City Council took action for the creation of a state-chartered public bank for the City of Los Angeles! The financial institution will be named "Bank of Los Angeles" and would reinvest in the communities, neighborhoods, and residents of the City of Los Angeles. Click here to read more...


California and L.A. Not Far Behind!

California_State_Treasurer_John_Chiang.jpgMeanwhile, California State Treasurer John Chiang has formed a Cannabis Banking Working Group to determine what to do with the cannabis cash that will be rolling into "pot shops" in January, after Prop. 64 legalized the herb for popular use. It is expected to be a $7 billion business generating a potential $1 billion in tax revenues; but it is a business with nowhere to bank, due to the federal ban on the herb. On August 10, the Treasurer is holding a workshop open to the public, featuring public banking veterans Marc Armstrong, Matt Stannard and Gwen Hallsmith among others. It will be held at the Sheraton Gateway Hotel on Century Blvd. in Los Angeles and will run from 9:30 a.m. to 1:30 or 2 p.m. It should be good!

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Washington State Public Bank Workshop

Washington State Bank Workshop:  Senator Hasegawa (host), Representative Ornsby, Senators Chase, Wellman, Kuderer, Presenters: Walt McRee, Former PBI Chair, Ellen Brown, Chair PBI ,   Dr. Karl Beitel, Senator Soldana

Washington State Sen. Bob Hasegawa has been working diligently on a state-owned bank ever since 2011. Last month, the legislature finally authorized $75,000 for a study to determine the feasibility of such a bank. On July 14th, he and Sen. Lisa Wellman held an all-day workshop at which public banking veterans Walt McRee, Ellen Brown, and Karl Beitel were invited to advise. 

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