This legislative session, we have a historic opportunity to bring local public banks to New York. As state legislators prepare to return to Albany in January, let them know that local public banking needs to be a top priority!
Public banking is a powerful tool for building wealth and power in low-income, Black, brown and immigrant communities. As many New Yorkers continue to reel from the pandemic, we need bold solutions. Through local public banking, New York counties and municipalities can divest public money from banks that systematically harm people and communities, and invest in a just recovery.
The “New York Public Banking Act” (S1762A/A8290) establishes a regulatory framework and consistent statewide guidance for local public banking in New York, giving local governments a pathway to create publicly accountable local public banks that advance racial and economic justice.
Call your state legislators and urge them to pass the “New York Public Banking Act” this session. Click here for contact information and a call-in script.
- Bill One-Pager and List of 100+ Groups in Support
- An Idea New York Should Invest In: A Municipal Bank Makes Great Sense (New York Daily News)
- Why Shouldn’t the People Own the Banks? (The Nation)
- Why Lawmakers Want to Create Public Banks (Spectrum New