The Alliance's three sponsored campaigns for public banks—the DC Public Banking Center, the Portland Public Banking Alliance, and Hub Public Banking—made progress this winter on democratizing finance in their cities and state.
In Washington, the DC Public Banking Center is keeping an eye on the request for proposals process for the city's public bank feasibility study, as well as continuing to reach out to constituents through a recent forum on “Banking for the Public Good, Not Private Profit.” The forum participants, including Alliance co-Vice chair Ruth Caplan, looked at what a public bank could do for Washington, the ethical concerns around the business practices of large banks, especially Wells Fargo, and the potential impact of a proposed revolving loan fund for environmental projects.
In Portland, public banking advocates have met with city council candidates and expect to have a majority on the five-person council who are friendly to the idea of a public municipal bank.
In Massachusetts, a bill to create a state infrastructure bank has been moved from the legislature's joint committee on Small Businesses to the committee on Financial Services, and advocates are mustering support for it from mayors, town managers, advocacy groups and citizens. Since the Finance committee's deadline for either moving bills to Ways and Means or asking for an extension on a decision is this week, proponents should know soon whether their bill has a chance of passage this term.
The Alliance's campaigns were also part of the discussion at a recent strategy meeting on public banking, organized by the Public Banking Institute, which brought advocates from across the country together in Colorado. The vitality of many of these new campaigns is inspiring, especially those that have drawn a connection between municipal divestment from Wall Street banks and fossil fuels, and reinvestment in local economies and environment via a public bank.
Check out our public banking campaign page for more resources and links to individuals projects online and on social media.
In Washington, the DC Public Banking Center is keeping an eye on the request for proposals process for the city's public bank feasibility study, as well as continuing to reach out to constituents through a recent forum on “Banking for the Public Good, Not Private Profit.” The forum participants, including Alliance co-Vice chair Ruth Caplan, looked at what a public bank could do for Washington, the ethical concerns around the business practices of large banks, especially Wells Fargo, and the potential impact of a proposed revolving loan fund for environmental projects.
In Portland, public banking advocates have met with city council candidates and expect to have a majority on the five-person council who are friendly to the idea of a public municipal bank.
In Massachusetts, a bill to create a state infrastructure bank has been moved from the legislature's joint committee on Small Businesses to the committee on Financial Services, and advocates are mustering support for it from mayors, town managers, advocacy groups and citizens. Since the Finance committee's deadline for either moving bills to Ways and Means or asking for an extension on a decision is this week, proponents should know soon whether their bill has a chance of passage this term.
The Alliance's campaigns were also part of the discussion at a recent strategy meeting on public banking, organized by the Public Banking Institute, which brought advocates from across the country together in Colorado. The vitality of many of these new campaigns is inspiring, especially those that have drawn a connection between municipal divestment from Wall Street banks and fossil fuels, and reinvestment in local economies and environment via a public bank.
Check out our public banking campaign page for more resources and links to individuals projects online and on social media.
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