Photo by Alex Motoc.
PBI’s Board Member Michael Brennan, working with The Democracy Collaborative and Public Bank LA, has published a new report that examines the thorny issue of public bank governance. How do we structure financial institutions to be functionally excellent and truly democratic?
“[T]his report proposes a governance design for the Los Angeles Public Bank and a more general democratic public bank model. The aim is to provide Los Angeles’ residents, organizations, policymakers, and other community stakeholders a starting point to draw from for questions of who the public bank serves and how. The strategic framework here provides a critical method of analyzing the bank’s functions—its mandates, missions, programs—and forms—its governance structures and the political-legal sequencing to get it fully operational.”
In support, next Wednesday, June 21 at 12:00pm ET / 9:00am PT, the Democracy Collaborative and Public Bank LA will be hosting a webinar to explore the proposed design and ongoing effort to create the bank.