Support Legislation to Create Public Banks in California
Cities and counties hold billions of dollars of public money in Wall Street banks. Legally, these corporate banks own and control this money which they have used to finance harmful industries including: private prisons, immigrant detention centers, weapons manufacturers, fossil fuel pipelines, and other investments that prioritize corporate profit over the people and the planet. These too-big-too-fail banks are also engaged in risky and fraudulent practices that crashed the global economy in 2008.
We have the opportunity now to build a new alternative banking system through locally-controlled socially and environmentally responsible public banks, enabling cities and counties to recapture public dollars and have a say over the financing of our own communities.
Send this letter, or draft your own, to your Representative and ask them to support the California Public Banking Alliance legislation for local public banks. Take action now and pave the way for a strong, transparent, and compliant institution that will reinvest in housing, transportation, clean energy, and jobs for the people of California.