PUBLIC BANKING WORKS

Public Banking Works is ...

Public Banks are...

And Are Not...

• Viable solutions to the present economic crises in US states.
• Counter-cyclical, meaning they are capable of reducing the negative impact of recessions, because they can make money available for local governments and businesses precisely when private banks decrease lending.
• Potentially available to any-sized government or community
able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate transparently according to applicable banking regulations
• Able to offset pressures for tax increases with returned credit income to the community.
• Ready sources of affordable credit for local governments, eliminating the need for large “rainy day” funds.
• Required to promote the public interest, as defined in their
charters.
• Constitutional, as ruled by the U.S. Supreme Court
• Operated by politicians; rather, they are run by professional
bankers.
• Boondoggles for bank executives; rather, their employees are
salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.
• Speculative ventures that maximize profits in the short term,
without regard to the long-term interests of the public.

Interested in Reading More? 

2 days ago
Public Banks and Credit Unions: What’s the Difference? t.co/… #publicbanking
3 days ago
Public Banks and Credit Unions: What’s the Difference? PBI co-founder Marc Armstrong explains -- t.co/… #publicbanking
Jun 26, 2017
It Is Fiscally Irresponsible to Delay a Public Bank in Oakland @OaklandPostNews t.co/… #publicbanking
May 24, 2017
Craig Brandt reports Richmond, CA Cty Council voted 6-1 to support @OaklandBank #PublicBanking efforts, explore patnership. Mayor voted no.
Mar 27, 2017
"Banks and states can rely" on Cole and FinCen memos, even in Trump era, according to former DOJ official at #Cannabis Banking Working Group