San Francisco Revives Public Banking Efforts

sanfrancisco.jpgSaying that she was “motivated by the unethical behavior of some of our banking partners,” a California county supervisor has requested that San Francisco’s 2011 public banking feasibility be updated.

San Francisco revived an effort to open a municipal bank Tuesday at a time when banking for the marijuana industry remains stuck in a legal limbo and ethical concerns persist around financial institutions, according to the San Francisco Examiner.

Leading the effort is Supervisor Sandra Fewer, who on Tuesday requested the budget analyst to update a previous 2011 study on municipal banking — an idea that has grown in popularity following the 2008 mortgage crisis… 

Read the rest of the story: SF Revives Effort to Establish Public Bank

Also, check out this related article: SF Reacts to Wells Fargo Banking Scandal

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