Public Banking

New York City deposits billions of dollars in Wall Street banks that routinely hoard fwealth from New York's working people and low income neighborhoods, adding to the growing economic and racial inequality in the city.

This bill would create banks owned by the state or a municipality. Instead of depositing public money in Wall Street banks, public banks provide a safe and responsible alternative to reinvest in the public good. Public banks are not driven by speculative gambling motives but by serving the people and the communities we live in.

Further Reading

Public Banking materials from New Economy Project

Public Bank NYC Coalition

Public Banking Institute

Public Banking materials from the California Public Banking Alliance