What a month! Public banking is making headlines across the country; San Francisco and Berkeley are moving forward with ballot measures, LA’s making waves, and we came home from the National Public Banking Conference in Philly with new allies and big plans. Here’s the rundown.



Public banking in California is everywhere lately, from the evening news to the New York Times! Here are a few highlights:

• CNBC: It’s a ‘socialist’ bank — and North Dakota Republicans love it
• The New York Times: Berkeley considers starting a public bank with taxpayer money
• NBC 4: City of LA looking into creating its own public bank; featuring CPBA’s Trinity Tran
• FOX 11: LA City Council votes to identify $460,000 for public bank study
• Straight Arrow News: Los Angeles wants to open a bank; featuring Trinity Tran
• San Francisco Chronicle: A public bank could be key to fixing San Francisco’s affordable housing crisis by Thomas Marois
• Berkeleyside: Should Berkeley fund a public bank for the East Bay? Voters will decide in November
• Westside Observer: Why Should Wall Street Have All the Money?; op-ed by CPBA’s Rick Girling

Bay Area momentum

Next Tuesday, Berkeley votes on Measure Z and San Francisco votes on Prop B, both of which would lay the groundwork for public banks. Measure Z is a parcel tax to fund a regional public bank for the East Bay. Prop B would let San Francisco set up a city-owned finance corporation now, with a path to a full public bank down the road. Two cities, two ballot measures. Public banking’s having a moment in California!

LA’s big move forward

The LA City Council voted 11-3 to approve $460,000 for a feasibility study on a city-owned public bank. The study was first approved in 2023, but the money was swept back into reserves when the budget got tight. Thanks to years of organizing by the Public Bank LA coalition, the work is moving forward.

Dispatches from Philly

CPBA Executive Director Trinity Tran and Legislative & Policy Advisor Thomas Hanna just got back from “Public Banking for Public Prosperity,” the Public Banking Institute’s national conference in Philadelphia, co-sponsored by the California Public Banking Alliance. It brought together dozens of organizers, practitioners, and researchers from coast to coast. Christopher Armitage gave the keynote, joined by national experts like Don Morgan, CEO of the Bank of North Dakota, and Ellen Brown, co-founder of the Public Banking Institute.

Trinity spoke on three panels about politics, strategy, and organizing. Thomas, who’s also VP of Research & Policy at The Democracy Collaborative, presented on how public banking fits into community wealth building and democratic governance.

Watch the recording of the 3-day conference here.

We came home with new allies, a bigger network, and a few big projects in the works for 2027. Stay tuned for more!

State public bank

The Existentialist Republic’s Christopher Armitage ran the numbers, and if California had its own bank in 2025, it would have generated $2.26 billion last year alone, and $20.1 billion over the decade. Imagine what we could’ve built with that!

We’re full steam ahead on the state public bank campaign, with a 130+ member coalition led by the California Federation of Teachers (CFT), The Greenlining Institute, End Poverty in California (EPIC), Indivisible California: StateStrong, 350 Sacramento, SacACT, and our statewide team.

New cities are joining the CA movement

Our San Diego team is growing! Shawn McClondon of the Sister Cities Project is joining San Diego Regional Rep Bobby Werner, and we’re planning San Diego’s first major public banking community gathering. In Merced and the Central Valley, Adam Shane and the 2nd Sunday Solidarity Coalition are gearing up to launch the region’s public banking movement, and we’re teaming up for a public banking conversation in Merced. Both are on deck for 2027, with lots more to come!