Although public banking is an unfamiliar concept to many here in the United States – there’s only one notable example, the Bank of North Dakota – public banks are common throughout the world.
Fast Company — For the latter half of 2016, the Standing Rock Sioux and activist allies from all over the country camped out in North Dakota to protest the construction of the Dakota Access Pipeline, which was likely to harm their native lands through an invasive engineering process and inevitable oil spills.
Today, members of the Public Bank NYC coalition rallied at a meeting of the NYC Banking Commission to call on the City of New York to divest from banks that harm New Yorkers and NYC neighborhoods, and to invest in communities through a public bank.
WBAI Living for the City — Our Andy Morrison and New York Communities for Change’s Jamie Tyberg speak with host Michael G. Haskins about the Public Bank NYC campaign.
In These Times — Wall Street bankers in expensive suits stopped and snickered on their lunch breaks June 5, 2018, as an eclectic group of New Yorkers with megaphones and banners called them out for investing in socially destructive industries—including private prisons, predatory lending, weapons manufacturing and, of course, fossil fuels.
Our organizations support the concept of “postal banking,” as a potentially transformative form of public banking. As banks continue to redline New York neighborhoods — perpetuating poverty, inequality, and segregation — bold solutions like postal banking are clearly needed. Some recently-introduced proposals, however, would exacerbate our two-tiered financial system and promote debt as a solution to people’s financial struggles.
Gotham Gazette — After an election where the issue saw little mainstream political attention, climate change and what to do about it has come roaring back to the forefront of the New York political scene.
Nonprofit Quarterly — It’s time to walk the talk on climate change. That’s the message activists communicated this week when they rallied outside New York City Hall on the fourth UN-backed Annual Climate Finance Day to demand that New York divest from its designated banks, which invest heavily in the fossil fuel industry, and create a municipal public bank.
Gothamist — In September, months after declaring the city’s intention to divest its pension fund from fossil fuels and “sue Big Oil,” Mayor Bill de Blasio published an op-ed in the Guardian touting New York City’s effort to tackle climate change through sustainable financial policies. Alongside London Mayor Sadiq Khan, he announced the launch of a new global initiative, and encouraged local governments to “use our economic might to accelerate the transition to a low-carbon economy.”
As global leaders assemble for the United Nations-backed 4th Annual Climate Finance Day, New Yorkers, including representatives of environmental, community and student groups, rallied at City Hall and called on NYC to divest public money from banks that fuel climate change and to establish a municipal public bank to help fund the transition to a just, sustainable economy.