Introducing AB 2243: California State Bank!

We’re excited to share a soft launch of the California State Bank Act (AB 2243), jointly authored by Assemblymember Matt Haney and Assemblymember Ash Kalra, ahead of our official campaign kick-off next month!

At a time when California is facing budget deficits and rising borrowing costs, this bill creates a structured process to develop a state public bank that can help stretch public dollars further and better support housing, climate, and small business priorities.

AB 2243 establishes a State Bank Commission that will work with independent experts to develop an actionable State Bank Plan. That plan will look at different options, including building on existing infrastructure like IBank or creating a new entity, and lay out what a workable model would require. That includes governance, how it’s capitalized, risk management, how it connects with existing state financing programs, and a five-year business plan. The process also includes public hearings and interagency coordination to ensure the work builds on existing capacity and stakeholder expertise.

A state bank would work in synergy with the local public banks we’re building across California, and help leverage the state’s billions in existing public funds at scale.

Once approved, the State Bank Plan becomes the state’s official roadmap to building a public bank!

We’re grateful to have strong co-sponsors helping lead this effort, including End Poverty in California (EPIC), The Greenlining Institute, 350 Sacramento, Indivisible California: StateStrong, and Friends of the Earth, along with over 80 organizations supporting AB 2243 pre-launch.

SIGN ON TO ENDORSE CA STATE BANK (AB 2243) HERE!

Are you a CA ADEM (Assembly District Election Meeting) Delegate? Endorse here!

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Call to Action!

We’re heading to the Capitol to push for the California State Bank (AB 2243), and we need you with us as we work to build a new banking system that supports Main Street!

This Thursday, join us at the State Capitol in Sacramento, March 26th from 9am to 11am for the AB 2243 Lobby Day and meet with legislators and staffers as we prepare for our Assembly committee hearings.

Sign up on our Lobby Day form, and coalition organizers will reach out!
https://forms.gle/2S6ADfDje1RJ8yrE7

Join the Lobby Day co-sponsors & endorsers team: California Public Banking Alliance, The Greenlining Institute, End Poverty in California, 350 Sacramento, Sacramento Climate Coalition, Sacramento Area Congregations Together (SacACT), Indivisible California: StateStrong

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Save the Date!

Mark your calendars! Join us at the State Capitol on Wednesday, April 22 (Earth Day) at 1pm for the official campaign launch with joint authors Assemblymembers Matt Haney and Ash Kalra, coalition leaders, endorsers, and the statewide public banking coalition. Details will be announced soon…

We’re marking Earth Day by kicking off this next phase of work together on building a more sustainable, people-centered financial system!

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!

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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!

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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

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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. 

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 Observer covered the Sacramento Public Bank Town Hall!

“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.”

“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.”

Support the Sacramento Public Bank! Sign our Action Network campaign to send letters to Sacramento city and county electeds!
https://actionnetwork.org/letters/support-the-sacramento-public-bank-email-to-electeds-v2

Read the article in Sacramento Observer.

Sacramento showed up in a big way with nearly 200 neighbors packing the room for the city’s first community town hall on public banking! A critical conversation right as housing costs and community needs keep climbing, and the usual funding sources aren’t keeping up.

Huge thanks to presenters Dr. Goli Sahba and Doug MacPherson; our panelists CPBA’s Executive Director Trinity Tran, former Councilmember Katie Valenzuela, Dr. Flo Cofer, and Mark Sawyer; and to moderator Chris Brown for guiding a lively and thoughtful conversation. We also touched on the need for a state public bank and CalAccount.

We’re grateful to Public Bank Sacramento, SacAct, Sacramento Climate Coalition, Third Act Sacramento, Parkside Community Church, Poor People’s Campaign Sacramento, and Sacramento Physicians for Social Responsibility for helping make the night happen.

And shout out to the community organizations who tabled and brought the energy: Third Act, Move to Amend, Poor People’s Campaign / Red Green Black Coalition, DSA, Sacramento Climate Coalition / Public Bank Sacramento, ReInvest Investing, 350 Sacramento, Social Justice Politicorps, Strong SacTown, SacAct, and CalCare.

Watch the event recording below:

The California Public Banking Alliance (CPBA) is covered in a Dec. 9, 2025 article in Crain’s Chicago Business. California is on the leading edge of this fight, and CPBA’s Trinity Tran puts the stakes plainly: many funding streams will be hit by federal volatility, which is why public banking feels urgent right now. “The power of a public bank is that you can maximize the impact of public dollars at scale.” For CA, that’s the promise of building on the California Public Banking Act and turning public money into long-term community capacity.

Read the article : https://www.chicagobusiness.com/elevate/federal-funding-cuts-stir-interest-public-banks

Public Banking Webinar with Senator Elizabeth Warren + Movement Leaders

California Public Banking Alliance co-hosted Public Banking Coast to Coast with opening remarks from Senator Elizabeth Warren! People from 39 states and several countries tuned in for a grounded conversation on how public banks can lower costs, keep dollars local, and invest in housing, small businesses, climate resilience, and community wealth.

Senator Warren set the tone clearly by reminding everyone that in a volatile federal moment, public money should serve the public.

We received an incredibly strong response of more than 130 pre-submitted and live questions from organizers, advocates, and public agencies, which says a lot about the level of curiosity and commitment to moving public banking from idea to implementation.

We’ve shared the materials below so people can keep studying them, sharing them, and putting them to work.

• Webinar recording: See the full session here and Senator Warren’s message here.
• Q&A: Link
• Resources from the event: Link

Thanks to our powerful speakers Trinity Tran, Dey Del Rio, Rei Fielder, Terri Friedline, and Linda Levy, and to our moderator, David Cobb.

And event co-hosts: New Economy Project, the University of Michigan School of Social Work, Massachusetts Public Banking, and The Democracy Collaborative.

There’s much more ahead for the public banking movement, and the momentum is now building across the country.

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Harvard Law Public Banking Summit

California Public Banking Alliance is still energized from the Harvard Law School public banking summit “Conference on Public Banking for Community Development,” which brought together organizers, practitioners, and policy leaders shaping the future of public finance. CPBA Executive Director Trinity Tran and Legislative Director Sylvia Chi spoke on panels about California’s experience building the Alliance, from on-the-ground organizing to policy design and financial models.

Don Morgan, CEO of the Bank of North Dakota, shared insights of what more than a century of public banking can achieve. Stay tuned for the keynote recording! 

We look forward to continuing building with Massachusetts Public Banking and community members, CDFIs, credit unions, and community banks across the country.

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Regional News

LOS ANGELES
Los Angeles – Spectrum News – Momentum grows as LA moves to create public bank. As LA City Councilmember Hugo Soto-Martinez puts it, “Our taxpayer dollars are paying for these projects and at the same time, saving hundreds of millions of dollars that we currently pay in interest to Wall Street banks.”

The LA County Democratic Party representing over 3 million registered Democrats endorses the LA Public Bank! In its newly passed resolution, LACDP backs a nonprofit, city-owned, tax-exempt public bank that can manage the City’s funds, work with local lenders, and finance affordable housing, green infrastructure, and community resilience so public dollars stay in our neighborhoods.

NORTH COAST
Debbie Notkin of Public Bank East Bay and Rick Girling of SF Public Bank led a California Public Banking Alliance teach-in with North Coast Progressive Alliance and The Next System Project at Cal Poly Humboldt. They presented an educational slide show on public banking basics and led engaging conversations with students and community members from Humboldt County and beyond on the  transformative potential of public banking for California communities.

SAN FRANCISCO
SF Supervisor Jackie Fielder and the SF Public Bank Coalition passed a resolution calling on the city treasurer to move forward to create a municipal green bank for San Francisco! It would start the process of figuring out how to establish what could become the country’s first municipal bank.

KQED: San Francisco Public Bank Supporters Eye 2026 Ballot Measure

48 Hills: New poll shows resounding support for public bank in San Francisco – 48 hills

Mission Local: S.F. has a plan for a public bank. One supervisor wants to act on it.

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Public Banking in London

The public banking movement is going international. For our Coast to Coast webinar, Max Nichols, a fellow at the London School of Economics and a volunteer with the California Public Banking Alliance, organized a student watch party on campus. Public Bank London is on the horizon.

Hi everyone,

On behalf of the California Public Banking Alliance, New Economy Project, the University of Michigan School of Social Work, Massachusetts Public Banking, and The Democracy Collaborative, thank you for joining Public Banking: Coast to Coast webinar.

We had people tuning in from 39 states and even abroad for this powerful conversation with movement leaders from across the country. Senator Warren’s message set the tone: public banks are a practical way to lower costs, keep dollars local, and invest in the things our communities actually need.

In a moment of federal volatility, the idea is simple. Keep public money working for the public good in housing, small businesses, climate resilience, and community wealth.

We appreciated the interest and curiosity! 130 questions came in through the Q&A, and we’ve answered them below.

Webinar recording: See the full session here and Senator Warren’s message here.
Q&A: Link
Resources from the event: Link

Thank you to our panelists: Trinity Tran, Dey Del Rio, Rei Fielder, Terri Friedline, and Linda Levy, and to our moderator, David Cobb. Special thanks to Senator Elizabeth Warren for lending her voice and helping bring public banking into the national conversation.

We appreciate you being part of this growing movement. There’s much more ahead.

With gratitude,
California Public Banking Alliance, on behalf of all co-sponsoring organizations

A national conversation exploring how cities and states are moving to reclaim public money for the public good.

As the federal government cuts core funding for cities and states, people are organizing to build power and take back control of local resources, by demanding creation of public banks that are owned by the people and serve the public interest.

Join us for a powerful national conversation on the growing movement for public banking, and how cities, states, and communities are reclaiming public funds to invest in permanently affordable housing, small and worker-owned businesses, climate infrastructure, and more.

Featuring remarks by Senator Elizabeth Warren and public banking movement leaders from across the country.

Wednesday, November 19, 2025
12 PM PT / 3 PM ET
Register on Zoom: bit.ly/PBC2C

Panelists:

• Trinity Tran, Executive Director, California Public Banking Alliance
• Dr. Terri Friedline, Associate Professor, University of Michigan
• Deyanira Del Río, Executive Director, New Economy Coalition
• Rei Fielder, Steering Committee, Massachusetts Public Banking
• Linda Levy, Board Member and former CEO of Lower East Side People’s Federal Credit Union

Moderated by David Cobb, Special Advisor, The Democratic Collaborative and the California Public Banking Alliance.

Attendees are invited to submit questions for the panelists when registering via Zoom.

Sponsored by
California Public Banking Alliance · The Democracy Collaborative · University of Michigan School of Social Work · New Economy Project · Public Bank NYC · Massachusetts Public Banking

Breaking SF Public Bank: New Poll Shows 2 in 3 likely SF voters support starting a San Francisco Public Bank!

Read the story: https://www.kqed.org/news/12058853/san-francisco-public-bank-supporters-eye-2026-ballot-measure