The U.S. Postal Service (USPS) has initiated a pilot program to enable certain post office locations to offer expanded financial services to customers including check cashing, bill pay, and low-fee ATM access, as well as upgraded money orders and wire transfers. The USPS quietly began the pilot program on Sept 13 in Washington, D.C.; Baltimore, Maryland; …
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 …
A view from history on the positive potential of a National Infrastructure Bank Read More
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 …
Los Angeles votes to develop a business plan for a public bank Read More
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, …
The OCC That acronym is not well known by many Americans even though it represents one of the most critical functions of our federal monetary system. The Office of the Comptroller of the Currency, the OCC, is the manager of our system of “national banks” which comprise two-thirds of the banks in the country managing …
It’s Our Money podcasts: From the American Revolution to the OCC Read More
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 …
Video spotlight: Recap of Philadelphia’s Public Banking Visioning Summit Read More
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 …
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 …
Public bank webinar this week: Wednesday, July 28, 5:00pm PT Read More
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 …
Watch the replay: Constructing the Democratic Public Bank Read More
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 …
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 …
Have you added your signature yet? Please sign the Friends of Public Banking declaration Read More
