Turnpike history 1, 2

A view from history on the positive potential of a National Infrastructure Bank

The proposed National Infrastructure Bank (NIB) now before Congress as HR 3339 is modeled after the Reconstruction Finance Corporation (RFC), which was instrumental in pulling the U.S. out of the Great Depression in the 1930s. Set up during the administration of Pres. Herbert Hoover and greatly expanded under Franklin D. Roosevelt, the RFC funded tens …

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Grand Park Los Angeles by Prayitno

Los Angeles votes to develop a business plan for a public bank

Photo by Prayitno. On Tuesday, October 5, the Los Angeles City Council unanimously voted to authorize the Chief Legislative Analyst to seek contractors or consultants to develop a business plan for a public bank. According to the Los Angeles Daily News, the CLA’s request for proposals will be released in 60 days. The selected consultant or subcontractor …

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Santa Monica PIer by Robert Bye

California Governor signs bill to study the feasibility of a CalAccount state public-private partnership program that would set up zero-fee accounts for the now unbanked

Santa Monica Pier. Photo by Robert Bye. AB 1177, signed by Governor Newsom on Oct 4, initiates a market analysis of the feasibility of implementing a state-backed “CalAccount Program.” The program would offer Californians access to “a voluntary, zero-fee, zero-penalty, federally insured transaction account, known as a CalAccount, and related payment services at no cost to accountholders, …

California Governor signs bill to study the feasibility of a CalAccount state public-private partnership program that would set up zero-fee accounts for the now unbanked Read More

Philly Summit recap

Video spotlight: Recap of Philadelphia’s Public Banking Visioning Summit

The Philadelphia Public Banking Coalition joined Councilmember Derek Green in presenting the Philadelphia Public Bank Visioning Summit on Saturday, September 18, 2021. Almost 400 people signed up, a tremendous vote of confidence in the transformative idea of creating a public bank in Philadelphia. Almost 200 attended the event, and most stayed for the full three …

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AOC Public Banking Act hearing

Video clip of AOC from the Congressional hearing on public banking receives close to 2 million views

National efforts toward public banking took a leap forward into mainstream awareness last week as the House Committee on Financial Services held one of its first hearings on the Public Banking Act of 2021, first introduced last year as HR 8721. Two PBI Advisory Board members — Ameya Pawar and Mehrsa Baradaran — and New Economy Project Co-Executive Director Deyanira Del Río were among the witnesses. They …

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EcoCiv Public Bank Dialogue

Public bank webinar this week: Wednesday, July 28, 5:00pm PT

PBI Chair Ellen Brown is a guest expert in EcoCiv’s next Global Systems Change Dialogue webinar on Wednesday, “Public Banking: A Path to Economic Transformation in California.” The live, online event will include a 60-minute moderated panel discussion, followed by 30 minutes of breakout room discussions for all attendees. More information and registration. Facebook event. Tuesday, July 27, 4:30-5:00pm ET: The …

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Michael Brennan

Watch the replay: Constructing the Democratic Public Bank

Democracy Collaborative research fellow and PBI Board Member Michael Brennan presented from his new report “Constructing the Democratic Public Bank: A Governance Proposal for the Los Angeles Public Bank” at this recent webinar hosted on June 21 by The Democracy Collaborative. Speakers included: California Public Banking Alliance co-founder Trinity Tran, PBLA organizer Naveen Agrawal, Modern Money Network founder Rohan …

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Punt photo by Chris Stine

Video Spotlight: NIB Coalition – Why the $5 trillion National Infrastructure Bank beats all other pending infrastructure proposals

Photo by Chris Stine. The Coalition for a National Infrastructure Bank recently posted a video that examined the question: What’s the difference between HR 3339, which creates a $5 Trillion National Infrastructure Bank, and other infrastructure bills currently before Congress? Two experts outline the differences and why, instead of punting, Congress should score a touchdown with the National Infrastructure …

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Friends of Public Banking launch

Have you added your signature yet? Please sign the Friends of Public Banking declaration

PBI has launched a Friends of Public Banking initiative to encourage individuals and organizations to declare their support for the creation of public banks. The easy-to-remember URL simplifies asking your own friends and groups to support the movement. As signatures build, the initiative will demonstrate to lawmakers and potential allies the broad-based interest that is materializing …

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