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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...

Wildfires in California. Floods in North Carolina. Disaster recovery shouldn’t leave cities drowning in debt. But right now, Los Angeles sends $1.4 billion a year in interest payments and banking fees to Wall Street instead of investing in climate resilience, affordable housing, and small businesses—funding that could keep families housed, help Angelenos rebuild, and restore neighborhoods after $250 billion in wildfire damages. A public bank would change this. The Bank of North Dakota moved $70 million into emergency relief within two weeks of a 1997 flood. Mortgage holders got six-month payment pauses. Imagine if LA and California cities had the same power to fund fire-resistant infrastructure, upgrade power grids, and keep families housed—without predatory loans. We already have the legal framework—the Public Banking Act of 2019 made it possible. Now, we need action. Every crisis costs lives and billions of dollars. A public bank means faster recovery, lower costs, and economic power...

Los Angeles faces $250B in wildfire damage, projected to be the worst natural disaster in U.S. history. Instead of paying Wall Street to rebuild, a public bank can keep our dollars local, funding critical services and projects. The devastation is immense, but so is the resilience of Angelenos.  To rebuild homes, schools, and businesses, the city shouldn’t rely on costly Wall Street bonds. A public bank keeps recovery dollars local, financing wildfire prevention and rebuilding efforts while reinvesting in our communities. If you or someone you know needs help right now, here’s a list of resources, including food, water, and shelter. Be part of the solution. Join the #PublicBankLA movement to build a stronger, more resilient LA: bit.ly/pblavolunteer. Read our January 2025 newsletter: https://mailchi.mp/fd263ac68585/lawildfires.

We’ve put together essential resources to support the push for public banking in Los Angeles and beyond! Check out the strategies that are driving real change in cities across the state. Our resources include lending and investment reports, business plans, municipal documents, and organizing tools from the LA public banking movement. Public Banking Movement Resources Public Banking in California Webinar With the federal landscape up in the air, there’s no better time to double down on local, community-driven change. Join us online on November 19th at 10am PST for a conversation on the transformative potential of public banks in California. We’ll cover how public banks can support local economic growth, fund affordable housing, and expand financing options for small businesses in communities of color. Hear about the steps to establish public banks statewide and how philanthropy can play a key role in bringing this vision to life. Our speakers include Bianca Blomquist from Small Business...

People power for public banking! Huge shoutout to our amazing community coalition partners Inclusive Action for the City, United Parents and Students, ACCE Action, SEIU 721, and the Public Bank LA team! We took over LA City Hall with a full day of meetings, urging council offices to fund the Los Angeles Public Bank plan. Our message was clear: The city has the opportunity to save over $1 billion a year in Wall Street fees and reinvest in our communities—affordable housing, clean energy, schools, and support for Black and Brown small businesses are all within reach. Let’s get those funds allocated and start building a future where our public funds work for LA’s working families. Special shoutout to Councilmember Hugo Soto-Martinez for championing public banking, and to Councilmember Eunisses Hernandez for meeting with our advocacy teams and standing strong with us in the movement to support Main Street! Follow us @publicbankla on Instagram to see our latest updates!