This past weekend, the ACCE Action team gathered in Los Angeles to strategize around state priorities, including rent control and the urgent need for Public Bank LA!
With local control under attack—seen most recently in the federal clawback of FEMA funds from NYC—we’re in a critical moment that exposes how easily essential resources can be frozen by federal overreach. When public services hang in the balance, we need financial systems that work for our communities, not against them.
Right now, Los Angeles pays $1.4 billion a year to private banks, lining Wall Street’s pockets instead of reinvesting in our own neighborhoods. A city-owned public bank would change that, keeping our money under local control and directing profits toward affordable housing, wildfire resilience, green infrastructure, and small businesses in communities of color. With a public bank, we get:
- Faster disaster response
- Lower costs for critical projects
- Greater economic equity
- Protection from federal funding cuts
It’s time to put Angelenos first. A public bank means every dollar stays where it belongs—right here in LA, serving our communities, not corporate shareholders. Our money, our values, our bank!
Read our latest Fact Sheet and the Urgent Need Brief on the Public Bank LA.
Read our February 2025 Newsletter here.
