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April 2019: Resolution in Support of Public Banking

Publish Date: Dec, 24 2019

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On April 16, 2019, Council adopted a resolution co-sponsored by Councilmember Bas endorsing the Public Banking Act AB 857 and urging the California State Legislature and Governor Newsom to support its enactment into law. A public bank will allow jurisdictions like Oakland to have more local control, transparency, and self-determination, and allow us to move in a direction to achieve sustainable community investments such as affordable housing, small business development, loans to low-income households, public transit, infrastructure, and renewable energy. See full details on Resolution #87607.