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? 

3 days ago
"Banks and states can rely" on Cole and FinCen memos, even in Trump era, according to former DOJ official at #Cannabis Banking Working Group
3 days ago
At Working Group, former DOJ official testifying that federal-state interplay reflected in Cole and FinCen memos are "best of both worlds."
3 days ago
The sole problem is the unwillingness of private banks to take cannabis revenue. That unwillingness is the source of all the security probs.
3 days ago
The consensus of everyone at the #Cannabis Banking Working Group is that dispensaries are law-abiding and want law-abiding communities.
3 days ago
#Oakland reports #cannabis businesses paying taxes w/ "backpacks full of cash" because banks won't take money. #publicbanking is solution.