Big wins for LA. Read our latest newsletter! The Public Bank motion cleared committee, and 7 councilmembers including Council President Harris-Dawson, are now putting funds behind it!

We just dropped our new State Bank brief, and later this month we’re at Destination Crenshaw for a community talk on money, power, and banking.

Public Bank Motion Passes Government Operations Committee!

The public bank motion passed at the September 5th Special Meeting of the Government Operations Committee at LA City Hall, chaired by Councilmember Imelda Padilla with Councilmembers Ysabel Jurado and John Lee. Huge thanks to the committee for their leadership and support. Next stop: Budget & Finance!

View and download our Committee Fact Sheet.

Public Bank LA’s Executive Director Trinity Tran and Move LA’s Executive Director Eli Lipmen presented the case for why LA must explore a public bank and create a permanent pool of capital to support city needs, especially as budgets tighten and federal funding grows more uncertain. A public bank would empower LA to leverage its own balance sheet to fund housing, climate action, and other urgent priorities.

Group photo with Public Banking champion CM Ysabel Jurado and coalition partners: ACCE Action, SEIU 721, Inclusive Action for the City, Move LA, United Parents and Students, and Public Bank LA.

LA City Council President Harris-Dawson joins 6 LA Councilmembers to Fund the Public Bank Plan!

The public bank plan is gaining momentum. In the second-largest city in the nation, Los Angeles City Council President Marqueece Harris-Dawson (CD 8) has joined six other councilmembers in committing their discretionary funds to move the plan forward: Eunisses Hernandez (CD 1), Council President Pro Tempore Bob Blumenfield (CD 3), Nithya Raman (CD 4), Curren Price (CD 9), Hugo Soto-Martinez (CD 13), and Ysabel Jurado (CD 14). It’s time for the rest of the Council to follow their lead and help make history. A public bank will allow LA to build the financial system our city truly deserves. One that invests in housing, climate, and infrastructure instead of Wall Street profits.

With support from these seven offices, the city is one step closer to cutting borrowing costs, reducing Wall Street fees, and redirecting the $1.4 billion we spend each year on debt service back into our communities.

1,800 Voices Strong. Add Yours!

Add your voice! Over 1,800 letters have already been sent. Click here to send a one-click letter. Let’s keep the pressure up and get the public bank plan across the finish line!

New Brief: California Needs a State Public Bank!

We’ve released a new report California Needs a State Public Bank. Federal rollbacks and budget cuts threaten housing, climate, and small business programs. Californians can’t rely on Washington to solve these problems. We must take charge of our own resources. Nearly 40 million people are counting on it!

A State Public Bank would: 1) keep our money working here at home, 2) lower costs and protect public funds, and 3) expand credit where it’s most needed.

Local public banks are already moving forward. A state bank would provide the reach and support to scale housing, small business lending, and climate resilience across California. Read the full report: California Needs a State Public Bank.

Join the Rethinking Money, Power, and Community Talk on Sept 22!

Join Public Bank LA’s Finance Director Dan Pelegero, Destination Crenshaw’s President Jason Foster, and Self-Help Federal Credit Union for a timely conversation with Oscar Perry Abello, author of The Banks We Deserve: Reclaiming Community Banking for a Just Economy.

Monday, September 22, 5–7 PM at Destination Crenshaw: 5462 Crenshaw Blvd, Los Angeles, CA 90043.

RSVP for the free event here!