Back in 2021, supporters from across the state helped pass the California Public Banking Option Act (AB 1177). Because of your support, the CalAccount Blue Ribbon Commission was created to explore how to bring no-fee, penalty-free banking to every Californian.
This past summer, the Commission released its report and the verdict was clear: CalAccount is not only feasible, itโs urgently needed. CalAccount is backed by CA State Treasurer Fiona Ma.
Now weโre entering the final phase. AB 1365 (Garcia), the bill to implement CalAccount, is moving forward in the State Legislature and will be heard in its first committee on April 21.
As part of theย CalAccountย Communityย Coalition, we invite you to join us onย Wednesday, April 16 at 2pmย for a quick campaign update and call to action.
At the Catalyst Convening in Long Beach on March 26, 2025, hosted by the Governorโs Office of Land Use and Climate Innovation (LCI) and the California Strategic Growth Council (SGC), CPBA’s Trinity Tran participated in a funding panel to discuss the California Public Banking Act. Trinity discussed how public banks keep money local, funding climate action and affordable housing, and how a state public bank can address California’s urgent funding needs amid shifting federal priorities.
On the panel were:
Trinity Tran Cofounder and Lead Organizer California Public Banking Alliance
Amar Azucena Cid Deputy Director, Community Investments and Planning California Strategic Growth Council
Geoffrey Ross Director of Government Services Horne LLP
Moderated by: Angie Hacker California Climate & Energy Collaborative CivicWell
The event convened local, regional, and tribal governments, community organizations, and state agencies to address climate, land use, and energy issues, co-create policies, and identify funding opportunities for local solutions.
Rashida Tlaib Highlights Our Public Banking Movement in The Guardian!
Congresswoman Rashida Tlaib and Michael McCarthy give a shout-out to our grassroots public banking movement in The Guardian!
โFrom Los Angeles to New York, for example, there are dozens of grassroots movements across our country building public options for finance. Democratic public banks and public asset managers are not run by a corporate board at the command of profit-driven shareholders lounging on yachts somewhere on the other side of the world. Powered by democratic mandates, they can make investments in renewable energy, affordable housing, community wealth-building, and other institutions that meet peopleโs real needs.โ
Catalyst Convening: Local Solutions & Public Banking
At the Catalyst Convening in Long Beach on March 26, 2025, hosted by the Governorโs Office of Land Use and Climate Innovation (LCI) and the California Strategic Growth Council (SGC), CPBA’s Trinity Tran participated in a funding panel to discuss the California Public Banking Act. Trinity discussed how public banks keep money local, funding climate action and affordable housing, and how a state public bank can address California’s urgent funding needs amid shifting federal priorities.
The event convened local, regional, and tribal governments, community organizations, and state agencies to address climate, land use, and energy issues, co-create policies, and identify funding opportunities for local solutions.
The People’s Lobby! Public Banking for California’s Future
It was a packed day, including productive meetings with Senator Monique Limรณn (DโSanta Barbara) and Assemblymember Mark Gonzalez (DโLos Angeles) as well as meeting with staff from a number of other legislators.
As cities grapple with budget deficits and federal threats to local resources, the time is ripe for public banking to come into being, leveraging public funds to invest in our communities and generate revenue to strengthen community sustainability. Itโs time to mobilize public money for the public good.
With nearly 8 million Californians unbanked or underbanked and federal consumer protections under threat, we need the state to lead on CalAccount, ensuring that basic banking is treated as a right. Considering that many businesses nowadays wonโt even take cash payments, a free debit card is a necessity. Stay tuned for the final phase of the CalAccount campaign kickoff!
CPBA Members with Senator Monique Limon and Assemblymember and Majority Whip Mark Gonzalez.
Calling All Banking and Finance Experts!
We’re seeking experts in banking and finance to join our Technical Working Group. We’re addressing challenges related to statewide public banking efforts, including regulatory requirements, alternative structures, capitalization, and more. We’re also exploring the reintroduction of our California State Bank bill.
We’re sharing a helpful resource from our allies at The Democracy Collaborative: TRACKING THE CRISIS โ a weekly news round-up covering administrative, legislative, and other actions by the new U.S. Administration, along with responses from legal, social, political, and economic movements.
This round-up serves as a tool to navigate the rapidly shifting political and economic landscape of the United States.
Our volunteer team of advocates from across the state: Sacramento, San Francisco, East Bay, and Los Angeles met with legislators at the Capitol to discuss our progress with building a network of socially and environmentally responsible public banks, and we rallied for CalAccount.
It was a packed day of meetings, including productive discussions with Senator Monique Limon and Assemblymember Mark Gonzalez about our progress.
With municipalities grappling with budget deficits and federal threats to local resources, public banking creates a powerful tool to build local sustainability. By leveraging public funds, we can generate revenue and resources that directly benefit California communities. It’s time to mobilize public revenue to serve the public good!
And with nearly 8 million un/underbanked Californians and threats to consumer protections, we need the state to lead on CalAccount to ensure basic banking is a right accessible to all.
California Public Banking Alliance’s Trinity Tran joins ShelterBox USA for an incredible panel event in honor of International Women’s Day 2025. Featuring Senator Monique Limon, LA Fire Department Captain Sheila Kelliher, and author Mindy Budgor. Moderated by ShelterBox USA’s President Kerri Murray.
Montecito Journal: In the quiet corridors of global progress, a sobering statistic echoes: 134 years. Thatโs how long the 2024 Global Gender Gap Report predicts it will take to reach gender parity worldwide. Itโs a timeline that stretches beyond our lifetimes, a horizon we can glimpse but never reach unless something fundamental changes in our approach.
This is precisely why ShelterBox USAโs annual International Womenโs Day panel carries such weight in 2025. Now established as Santa Barbaraโs longest-running event celebrating this global day, this yearโs gathering transforms the Music Academy of the West into an incubator of ideas centered around the urgent theme, โInvest in Women โ Accelerate Action,โ and the push for greater progress.
The carefully curated panel brings together women who donโt merely discuss change โ they embody it. Captainย Sheila Kelliher, the first woman to serve as Public Information Officer for Los Angeles County Fire Department, represents the front lines of gender barrier-breaking. Recently seen on the Grammy stage handing โAlbum of the Yearโ to Beyoncรฉ, Kelliher has navigated the historically male-dominated firefighting profession while establishing a Womenโs Fire Prep Academy, creating pathways for future generations to follow.
Senatorย Monique Limรณnย offers a complementary perspective from the legislative sphere. As Vice Chair of the Legislative Womenโs Caucus and representative of Californiaโs 21st district, Limรณn crafts the policies that translate aspiration into structural change, particularly in advancing economic equality through pay equity legislation.
Community activist Trinity Tran brings yet another dimension to the conversation, focusing on economic opportunities for marginalized communities. Her work on the California Public Banking Act exemplifies how expanding access to financial systems can create cascading benefits for women and other underrepresented groups.
Completing the panel, Mindy Budgor โ chronicled in her book Warrior Princess about becoming the first female Maasai warrior โ now leads an AI-enabled company called Nines that empowers womenโs self-perception, demonstrating how technology can become a tool for changing deeply ingrained narratives.
The significance of this event transcends inspiration. As ShelterBox President Kerri Murray explains, women suffer disproportionately during disasters and conflicts โ from higher death rates to significant economic losses and increased gender-based violence. Yet paradoxically, women also prove essential to community recovery efforts after disasters strike.
This duality informs ShelterBoxโs approach: acknowledging womenโs unique vulnerabilities while recognizing their irreplaceable strength in rebuilding shattered communities. The panel serves as both celebration of progress and clear-eyed assessment of work still undone.
For the hundreds expected to attend โ many being young women early in their careers seeking mentorship and inspiration โ the event promises something beyond platitudes. It offers living proof that the seemingly immovable barriers of gender inequality can indeed be dismantled, one strategic action at a time.
The free community event, sponsored by Twin Hearts: Belle Hahn & Lily Hahn Shining, invites all to register through the ShelterBox USA website and participate in this vital conversation. Because shortening that 134-year timeline requires more than passive observation โ it demands collective acceleration.
ShelterBox USAโs International Womenโs Day Panel will take place on Thursday, March 6th, from 5-7 pm at the Music Academy of the West. Visit www.shelterboxusa.org/international-womens-day to RSVP.
Housing California Conference - Public Banking Panel
Join us at the 2025 Housing California Conference March 6th in Sacramento for an important discussion on how public banking can drive affordable housing in cities across the state. CPBAโs Communications Directorย Rick Girlingย will be presenting alongside affordable housing experts from San Francisco, the East Bay, and Los Angeles. Thursday, March 6th What’s A Public Bank And How Can It Help Build Affordable Housing? 2:45 PM โ 4:00 PM Wouldn’t it be great if cities/counties could invest directly in a bank owned by the community and focused on the public good, rather than keeping their money exclusively with Wall Street banks? They can! Local public bank efforts throughout California are working to make that idea a reality in the East Bay, LA, San Francisco, etc, with affordable housing a major focus of their lending priorities. Join the discussion with public banking and affordable housing experts, including the lead author of the Jain Family Institute and Berggruen Institute report on the Municipal Bank of Los Angeles, and leaders from the California Public Banking Alliance.
Speakers
Elissa Dennis, Community Economics, Executive Director
Rick Girling, California Public Banking Alliance, Director of Communication
Fernando Marti, SF Public Bank Coalition, USF, Cal Poly San Luis Obispo, Architect, Architecture and Housing Policy professor
Public Banking in a Time of Crisis: How to Rebuild Los Angeles
Wildfires in California. Floods in North Carolina. Disaster recovery shouldnโt leave cities drowning in debt. But right now, Los Angeles sends $1.4 billion a year in interest payments and banking fees to Wall Street instead of investing in climate resilience, affordable housing, and small businessesโfunding that could keep families housed, help Angelenos rebuild, and restore neighborhoods after $250 billion in wildfire damages. A public bank would change this. The Bank of North Dakota moved $70 million into emergency relief within two weeks of a 1997 flood. Mortgage holders got six-month payment pauses. Imagine if LA and California cities had the same power to fund fire-resistant infrastructure, upgrade power grids, and keep families housedโwithout predatory loans. We already have the legal frameworkโthe Public Banking Act of 2019 made it possible. Now, we need action. Every crisis costs lives and billions of dollars. A public bank means faster recovery, lower costs, and economic power in local hands. Public banking is the tool we need to rebuildโfaster, fairer, and permanently stronger. Read Trinity Tranโs op-ed in Common Dreams: Public Banking in a Time of Crisis: How to Rebuild Los Angeles
Congresswoman Rashida Tlaib Leads on Public Banking
At the February 5, 2025, House Financial Services Committee hearing, Rep. Rashida Tlaib discussed how the Bank of North Dakota (BND) partners with local lenders to keep credit flowing where itโs needed most. Over half of its $5 billion loan portfolio supports small businesses, farmers, and homeownersโproving that public banking strengthens communities, not big bank profits.
Progressive cities are pushing for public banks, yet the model has already thrived for over a century in a red state. The BND has investedย $1 billion in schools, water infrastructure, and healthcareย while returningย another $1 billionย to North Dakotaโs general fund.
And when crises hit, the results speak for themselves:
2008 Financial Crisisย โ No North Dakota bank failed during the Great Recession. No foreclosures and no credit defaults. No other state can say the same!
Pandemic Reliefย โ Faster, more effective small business support than Wall Street banks. Without the Wall Street middleman,ย BND distributed funds directlyย to impacted small businesses, helping them stay afloat.
Natural Disastersย โย Quick, local emergency response. Within two weeks of the 1997 floods in Grand Forks, ND, the Bank of North Dakota launched a disaster relief fund, allocated $5M for flood victims, and secured $70M in credit lines to local agencies and communities.
This is profit for the people, not Wall Street. The Bank of North Dakota proves public banking worksโnow it’s time for cities across California and the nation to take action. Letโs build it!
Nonprofit Quarterly Highlights Public BankingโCalifornia & Beyond
We started the year off strong with two features in The Nonprofit Quarterly! Check out the trilogy of public banking articles: two from the California movement and the third from New York.
1. Californiaโs push for public banking rewrites local finance. By breaking Wall Streetโs grip, these banks tackle community needs–stabilizing neighborhoods & funding home-grown solutions. The revolution is local. Trinity Tran with the Alliance and Public Bank Los Angeles writes for NPQ. Read the article here.
2. From Public Bank East Bay in NPQ: Why let Wall Street hoard public funds? California’s movement is breaking the โpublic funds, private profitsโ pipeline, creating banks that invest in affordable housing, small businesses & clean energy. Read the piece here.
3. Andy Morrison with Public Bank NYC in NPQ: What does โfinance for the peopleโ look like? Itโs public banks that work for communities, not shareholders. New York is building a future where public dollars fund progress, not Wall Street greed. Read the article here.
California is proving whatโs possible when communities demand a financial system that works for them. These articles capture the vision, the action, and the urgency of this movement. Letโs keep building.
Rebuilding and Resilience: California Needs Public Banks
Our thoughts are with those affected by the wildfires in Southern California, the families displaced, the communities impacted, and everyone still waiting for safety and relief. Los Angeles, we see your resilience in the face of this devastation.
As California faces another catastrophic wildfire season, weโre reminded how vulnerable our state is to natural disasters. Members of the Alliance have experienced the effects of these fires firsthand, making it clear that none of us are exempt from the damage caused by the climate crisis. From the projected $250 billion in damages in LA alone to the thousands of families displaced, the need for real solutions has never been clearer. We need public banks in California to invest directly in wildfire prevention, rebuilding homes and infrastructure, supporting small businesses in their recovery. Instead of local governments issuing expensive bonds, wasting millions in interest payments to Wall Street banks, we can keep public dollars working here, where theyโre needed most. A public bank also gives us the tools to invest in long-term climate resilience: renewable energy, sustainable housing, and infrastructure that can withstand the growing impacts of climate change. This is about more than recovery, itโs about building a California thatโs ready for the challenges ahead. If youโre thinking about starting a public bank in your city or region, take a look at our organizing and technical resources. Letโs join forces to create community-owned banks that truly invest in the people and neighborhoods that need it most. Reach out anytimeโweโd love to hear from you: info@capublicbanking.com.
