Eric Hardmeyer CPBA Town Hall

Former BND CEO Eric Hardmeyer talks mission, profitability, raising capital, and identifying the problem public banks solve in this recent CPBA town hall

Eric Hardmeyer, former CEO of the Bank of North Dakota (BND), shared his insights from over 20 years at the helm of the nation’s only state public bank as part of a recent town hall presented by the California Public Banking Alliance. He touched on founding principles, the importance of profitability to fund growth, that leverage …

Former BND CEO Eric Hardmeyer talks mission, profitability, raising capital, and identifying the problem public banks solve in this recent CPBA town hall Read More

Lake Merritt, Oakland, CA by Priyanka Sethy

UPDATE: Alameda County Supervisors approve $75,000 to help pay for the public bank business plan process needed to obtain a public bank charter

In another important stride forward for public banking, four Alameda County Supervisors voted unanimously March 15 to give $75,000 to Friends of the Public Bank East Bay for planning activities. The PBEB group has completed the viability study required by California’s Public Banking Act (see article here), the first stage in the process of applying …

UPDATE: Alameda County Supervisors approve $75,000 to help pay for the public bank business plan process needed to obtain a public bank charter Read More

PBEB Viability Study

Public Bank East Bay publishes the first Viability Study for a regional public bank in California, providing a very promising model for other applicants

California’s Public Banking Act, AB 857, which took effect on January 1, 2020, requires that municipalities complete a “viability study” as a first step toward applying for a public bank charter. Public Bank East Bay (PBEB)— a joint venture of the East Bay cities of Oakland, Berkeley, and Richmond, and the county of Alameda — is …

Public Bank East Bay publishes the first Viability Study for a regional public bank in California, providing a very promising model for other applicants Read More

Philly Public Financial Authority becomes law

Philly’s mayor allows the Philadelphia Public Financial Authority to become law

On Thursday, March 17, Philadelphia Mayor Jim Kenney allowed the Philadelphia Public Financial Authority Bill #210956 to become law without his signature. This follows the Philadelphia City Council’s overwhelming 15 to 1 veto-proof vote Thursday, March 3 to pass the bill. Stay tuned for further updates. [Read more about the bill]

Girl facing Wall Street bull. Photo by Robert Bye

News Roundup – March 22, 2022

Public and Postal Banking How Philadelphia is laying the groundwork for a public bank | Allissa Kline, American Banker [PDF version] Economics in Brief: Yes Votes for Public Bank in Philly | Solcyre Burga, Next City City Council votes to establish the Philadelphia Public Financial Authority | City Council Philadelphia Philadelphia takes initial step towards creating nation’s first municipal bank | Noah Zucker, PhillyVoice Philadelphia …

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NIB momentum builds

Momentum builds for the National Infrastructure Bank as nine state legislatures pass resolutions in support, with many state votes still pending

Demonstrating the broad-based and growing support building behind the National Infrastructure Bank bill championed by the Coalition for the NIB, the following state legislatures have passed resolutions supporting NIB legislation or policy: Nevada, both houses (2021) Maine, both houses (2021) Illinois House (2021) New Jersey Senate (2021) Rhode Island Senate (2021) Delaware Senate (2022) Washington State …

Momentum builds for the National Infrastructure Bank as nine state legislatures pass resolutions in support, with many state votes still pending Read More

IOM Michael Hudson

Latest podcast: Michael Hudson talks with Ellen Brown on what a debt jubilee might look like

Michael Hudson on Money and Debt Celebrated economist Michael Hudson thinks that the world of academic economics is both deceptive and essentially wrong in its formulations of the role of money and debt. Hudson says today’s oligarchic monetary systems invariably reinforce the flow of profits from labor to the top of the economic ladder. The …

Latest podcast: Michael Hudson talks with Ellen Brown on what a debt jubilee might look like Read More

PBI Explains - legal issues

Video spotlight: Legal aspects of public banking – Earl Staelin, J.D.

Public banking advocates often face legal questions such as: “Does a public bank violate a state’s constitution?” or “Is legislation needed for a public bank?” In these short video clips, Colorado Public Banking’s Earl Staelin, J.D., offers his legal rationale for answering these common questions. In two parts. Part one:     Part 2:   Useful …

Video spotlight: Legal aspects of public banking – Earl Staelin, J.D. Read More

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