Public Bank Movement Gains Ground in Cities and States across the US
A growing number of cities across the United States are considering launching city-owned public banks. Among these are Portland, Seattle, Los Angeles, San Francisco, Oakland, Philadelphia, Santa Fe, and Washington DC. The Public Banking Institute, a national advocacy nonprofit, has been supporting these and many other campaigns. At the state level, New Jersey's governor-elect Phil Murphy, who spent 23 years at Goldman Sachs, has expressed interest in establishing a state public bank.