Three cities Public Bank East Bay

Berkeley City Council approves Public Bank East Bay’s viability study, joining Richmond and Oakland in the working group creating a public bank

Public banking takes another key step forward in Northern California.

Public Bank East Bay writes:

On Tuesday, April 11 (really, really close to the first minutes of April 12), the Berkeley City Council approved Public Bank East Bay’s viability study and committed to join the working group that will hash out the details of how the bank will be formed and funded. This follows Richmond’s approval last spring (with additional resolutions toward the end of last year) and Oakland’s approval in December. The working group will include city finance people, elected officials, city attorneys, and public banking advocates, including some of our stellar Bank Board candidates.

This is a historic moment, and there’s even more good news! The week before the Berkeley vote, we had our first opportunity to present to the Alameda County Board of Supervisors, who showed a lot of interest, asked good questions, and helped us craft a path forward. Alameda County Treasurer Henry Levy, a supporter of the Bank, will also be invited to working group discussions, providing participation from all four prospective founding members.

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