May
2023
25
New Yorkers Demand a Public Bank at First-Ever Hearing on Banks Eligible to Hold Billions in NYC Deposits
Dozens of New Yorkers representing community groups across the city testified today at the first-ever public hearing before the NYC Banking Commission on the designation of banks eligible to hold municipal deposits. A familiar refrain at the hearing was the call for a public bank to hold city funds and reinvest in low-income neighborhoods and communities of color that the big banks routinely fail to serve.