Systematic wealth extraction from communities of color hasn’t stopped for the public health crisis caused by COVID-19—and it won’t stop unless we transform our economy.
New York, NY – Yesterday, a broad coalition of community, labor, cooperative, environmental and economic justice groups convened a virtual town hall highlighting public banking as an essential strategy for ensuring a just COVID-19 recovery. The timely event, entitled “From Crisis to Recovery: NY’s Fight for Public Banking,” engaged more than 1,000 New Yorkers and featured presentations by NYC-based movement leaders and guest Kali Akuno of Cooperation Jackson.
Daily News — Families and businesses in southeast Queens are being shunned by the banking system, possibly in violation of federal law. And that makes Rep. Gregory Meeks furious.
This bill creates a safe and appropriate regulatory framework for local governments seeking to establish public banks. Public banks are financial institutions created by government entities, and accountable to the people. Through public banking, cities and counties can manage their own revenues and leverage those funds to support local economic development, including affordable housing, green jobs, equitable financial services, and more.
How will the state help address “public deserts”? Deyanira Del Río, Co-Director of the New Economy Project, and Andy Morrison, Campaigns Director for the New Economy Project, discussed the push for public banks.
Next City — It’s a sunny August Saturday in Far Rockaway, and New York State Senator James Sanders Jr. could hardly be more in his element. He’s riding high, not only on his parade float leading the 3rd Annual Carnival in the Rockaways, but also in his relatively new position as chair of the NY State Senate Committee on Banks.
New York Daily News — New Yorkers can bank on these companies to do the wrong thing, advocates say.
The six “Worst Banks of 2019” got awards for bad behavior during an inaugural shaming ceremony held Tuesday by a coalition pushing for the creation of a New York City public bank.
El diario — El martes se celebró una ceremonia para premiar a los “peores bancos” de Nueva York. No fue una fiesta sino el escenario en el que una docena de grupos comunitarios volvieron a insistir en la necesidad de que se cree un banco municipal en el que se deposite el dinero de la ciudad y a la vez se invierta en necesidades de los ciudadanos.
Public Bank NYC announced today that it has received a three-year, $276,000 grant from the Scherman Foundation’s Katharine S. and Axel G. Rosin Fund. The award supports the coalition’s campaign for a municipal public bank in New York City, and represents the first major grant that Public Bank NYC has received for its members since its launch in summer 2018.
A look inside recent community meetings on public banking in the Bronx, Queens, and Brooklyn.