Public banking makes the CA Democratic Party’s 2026 Platform!

In the California Democratic Party’s final adopted 2026 platform (read it here), the party includes support for major public banking reforms. (You can also find it at cadem.org under About → Our Platform → 2026 Platform.) Thank you to the California Democratic Party Platform Committee members for their continued support of public banking!

“Support legislation to convert the California Infrastructure and Development Bank into a depository bank to expand infrastructure loans and strengthen loan guarantees for small business, and provide more stable and equitable returns on municipal and pension fund deposits;”

“Facilitate banking services that offer community banks, public and municipal banks, and credit unions incentives for implementing new technologies that benefit small businesses and consumers;”

We’re also under Finance and Infrastructure Support:

“Support public banking to provide low-interest loans for small businesses, farmers, land trusts, and cooperative housing groups, fostering community reinvestment and infrastructure development;”

Organizers with the California Public Banking Alliance, including Halah Ahmed, Rick Girling, and Brett Garrett, joined SF Public Bank organizers on the ground at the California Democratic Party Convention to share literature on local public banking and sign on delegates in support of the state bank campaign.

We are now gearing up for 2026 state legislation to expand and transition IBank into a public depository institution. Stay tuned for the launch!

Los Angeles: a packed house for public banking

A big night at the Los Angeles Public Banking Listening Session at Mercado La Paloma. Angelenos spoke candidly about the financing gaps facing affordable housing, small and microbusinesses, and community infrastructure, and about why a city-owned public bank is an urgently needed solution.

Councilmember Ysabel Jurado voiced support for moving the public bank forward as a tool to help alleviate the struggles Angelenos are facing. Former Stockton Mayor Michael Tubbs spoke to the urgency of bold public financing tools to confront economic inequality.

Thank you to End Poverty in California, Inclusive Action for the City, ACCE Action, and United Parents and Students for months of prep and leadership to make the night possible. Event footage coming soon!

Sacramento: public banking in the headlines

Great coverage of the Sacramento Public Bank Town Hall from the The Sacramento Observer! “What if the money cities spend on interest and banking fees were reinvested in their communities? That question drives a growing public banking movement across California, including in Sacramento, where community leaders and residents gathered to discuss creating a publicly owned bank.”

Sacramento’s local initiative is about building sustainable public financial infrastructure so city dollars can be managed with accountability and reinvested in housing, climate resilience, and neighborhood stability.

“The question isn’t just is there enough money,” said Trinity Tran, executive director of the California Public Banking Alliance. “The question is who decides where our common dollars go today, how they’re used, and whether they stay in communities and benefit our localities, or [whether] they keep getting signed out to private institutions that don’t answer to our communities.”

Dr. Flojaune Cofer, an epidemiologist and progressive organizer, described public banks as part of the infrastructure that determines whether communities thrive.

“The strongest drivers of health are not the 15 minutes you spend with your health care provider,” Cofer said. “It’s everything else happening in your community: housing stability, income security, safe neighborhoods.”

Read the full story: How Sacramento’s Public Banking Movement Plans to Keep Taxpayer Money at Home

San Francisco puts its public bank on the ballot

The SF Public Bank Coalition and Democratic Socialists of America – SF are organizing neighborhood lit drops to build awareness and momentum ahead of the city’s upcoming ballot measure. As big banks continue to extract wealth from working people, the push for a public bank is about accountability and reinvestment, keeping local dollars circulating in San Francisco and directing profits back into deeply affordable housing, small businesses, and community needs. Public bank advocates are now starting to collect signatures for funding the public bank.