Why Bay Area Residents Want Their Governments to Get into Banking

Next City
Tuesday, September 18, 2018

In hopes of solving the issues which led to the financial crisis, a coalition of Californian cities has expressed interest in establishing locally-accountable, ethical banks owned by government bodies, known as public banks. Oakland joins San Francisco, Los Angeles, Seattle, Portland, Philadelphia, and New York City along with New Jersey and Michigan in the quest to establish socially-responsible, government-owned financial institutions that can fulfill public missions faithfully.