May 16, 2019.

Over 100 organizations have signed on to endorse California’s Assembly Bill 857, a bill that would enable municipalities to more easily charter a public bank. Advocates with the California Public Banking Alliance have worked diligently to gain the support of labor and community organizations, elected officials, and local governments across the state. These organizations represent over 3 million Californians standing in support of public banking.

The bill is being heard today, Thursday, May 16, in the Assembly Appropriations Committee. A parallel bill, Senate Bill 528, which would convert the existing California Infrastructure and Economic Development Bank from a revolving fund to a true depository public bank, is being heard the same day in the Senate Appropriations Committee. If these bills pass those committees, they will head to the floors for votes early next week.

The Alliance is asking Californians to call their Assemblymembers to vote Yes on AB 857.

The Alliance writes:

“THANK YOU to over 100 organizations in California for endorsing #AB857 including: California Labor Federation, SEIU California, California Nurses Association (CNA),National Nurses United (NNU), UFCW WesternStates Council, AFSCME Council 57, Indivisible-California, Fossil Free Fuel, Courage Campaign,Los Angeles County Young Democrats, Green Party of California, United Educators of San Francisco, Healthcare for All – California.”

“The City of Los Angeles, the City and County of San Francisco, the City of Oakland, and the City of Huntington Park are among the municipalities who have passed resolutions to endorse AB 857. And over 170 California Democratic Party delegates have also signed on to support!

“The time is here for public banking in California!”

AB 857 Fact Sheet

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