From the California Banking Alliance.
On July 29, the Bank of North Dakota (BND), the only public bank in the United States will celebrate it’s 100 year anniversary. The BND is owned by the people of North Dakota. Founded in 1919, the BND public bank is more profitable than Wall Street banks. The BND escaped the economic crash of 2008 unscathed because it does not get involved in risky or predatory banking practices. It invests in the people of the state and strengthens local communities.
Join us on Monday, July 29 on the Bank of North Dakota’s 100th year centennial, for a day of social media amplification and help us bring awareness to California’s epic fight for our financial independence from Wall Street!
Check out our sample tweets and graphics for the Public Banking Day of Action here.
The Public Banking Act Heads to its Final Committee!
The public banking revolution is growing across the country– it is now on the verge of becoming a reality here in California.
AB 857 is headed into our final committee, Senate Appropriations, in mid-August. AB 857 will then return to the Assembly floor for a second vote due to added amendments, before its last stop on the Senate floor at the end of August.
We’re in the final home stretch before the bill gets signed by Governor Gavin Newsom, but we need your help now to get to the finish line and free California from Wall Street’s stranglehold.
With the establishment of public banks, cities and counties will be able to divest their tax revenues from Wall Street megabanks who use public dollars to finance private prisons, fossil fuels, predatory lending, and weapons industries. Our cities can then leverage our deposit base to invest in equitable, community-driven projects like affordable housing, renewable energy, infrastructure, and small businesses.
California is on our way to making history as the first state in the nation to enable local public banks to recapture the billions paid to private, out-of-state banks and reinvest in our local communities.
Priority Call – Appropriations Committee Chair: Senator Anthony Portantino (San Fernando and San Gabriel Valleys): (916) 651-4025.
Take 3 minutes today to call your Representatives:
- Find your CA State Senator and Assemblymember:findyourrep.legislature.ca.gov
- Find their Capitol phone number: Senate Democrats Call List / Assembly Democrats Call List
- Call your Senator and Assemblymember. Tell the staffer your full name, zip code, and:
- “As a constituent, I’m urging the [Senator or Assemblymember] to support AB 857 the Public Banking Act.”
- For more information, view our AB 857 Fact Sheet, FAQs and Endorsements. Visit our AB 857 Resources page.