In another high-profile race in a major US city, a candidate for the Philadelphia City Council has made public banking her campaign centerpiece, demonstrating that the idea is rapidly gaining prominence as a funding solution. Beth Finn, candidate for Philly City Council at Large, states in The Philadelphia Inquirer:
“I will make public banking the centerpiece of my legislative agenda. Every year, our city loses millions of dollars in bank fees and interest payments to big corporate banks that also use that money to invest in ventures that go directly against my values. A public bank maximizes our limited funds for investment by recapturing that money and loaning it to ourselves. A public bank is for the public good. Once established, I also want our public bank to offer basic checking account services to the underbanked and unbanked.”
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