April
2023
19
City Council Holds Hearing on Creating a New York City Public Bank
The New York City Council Committee on Finance held a hearing today on a series of bills, collectively dubbed “The People’s Bank Act,” to create a public bank in New York City. A public bank will enable the city to leverage its immense financial resources toward advancing economic security and shared prosperity for all New Yorkers. Public banks around the world, including the century-old Bank of North Dakota, have a strong track record of making equitable investments, providing high-quality financial services to underserved neighborhoods, and building community wealth.