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.
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.
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.
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.
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.
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.
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 Warrenfor 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
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
California is facing budget deficits, federal rollbacks, and deep cuts to housing, climate, CDFI funding, and small business programs. Just as our communities need support, the federal government is pulling back. Californians cannot depend on the Trump Administration to help solve these problems. We must assert our State’s authority to manage our substantial financial resources for addressing critical needs. For nearly 40 million Californians, the time to act is now.
The California Public Banking Alliance has released a new State Public Bank Brief to show a path forward.A State Public Bank would keep California’s money working for Californians by protecting public funds, expanding credit to our communities where it is needed and lowering borrowing costs. View and download here: California Needs a State Public Bank
Local public banks are already moving forward across the state. City-and-regional-level public banks keep dollars circulating in neighborhoods, supporting small businesses, housing, and community projects. A State Public Bank creates an ecosystem of public financial infrastructure. It brings the strength of the world’s fourth-largest economy, pooling deposits, providing liquidity, and technical assistance to help local banks launch and grow. The state bank provides the scale, support, and reach to finance housing, climate resilience, and infrastructure on a statewide level. This is how California can build lasting economic power and resilience in the face of a hostile federal administration! Join the fight and be part of the team building the State Bank campaign. This is only the starting point. Legislation is still being developed, and core details on capitalization, governance, and oversight will be shaped with coalition leaders, stakeholders, and legislative champions. Our aim is simple and urgent: build a strong, lasting movement and a financial system that truly serves the people of California! Volunteer with us!
As federal support for climate and infrastructure shrinks, cities are turning to bold tools to build local economic power. Public banking is one of them.
Join us for a virtual roundtable, featuring our very own Trinity Tran, on how public banks can support guaranteed income programs and help build more inclusive, community-rooted economies. The event will spotlight new research from the Institute on Race, Power and Political Economy at The New School and feature leaders in public banking, economic justice, and guaranteed income. Featuring:
Terri Friedline, Professor of Social Work, University of Michigan
Darrick Hamilton, University Professor and Founding Director, Institute on Race, Power and Political Economy, The New School
Amy Castro, Co-Founder and Faculty Director, Center for Guaranteed Income Research, and Associate Professor, University of Pennsylvania
Trinity Tran, Co-Founder and Lead Organizer, California Public Banking Alliance
Graham Steele, Academic Fellow, Rock Center for Corporate Governance, Stanford Law School/Stanford Graduate School of Business, and Fellow, Financial Regulation, Roosevelt Institute
Hosted by: The Institute on Race, Power and Political Economy, The New School.
Read and download two new reports on how public banking can support economic equity and strengthen financial infrastructure for guaranteed income programs.
At a national convening in Washington, D.C., marking the launch of Demos and New Economy Project’s report, Public Banks for Racial Equity: Democratizing Finance to Build Community Wealth,CPBA’s Executive Director Trinity Tran and Legislative Director Sylvia Chi presented Dispatches From the Field: Wins, Lessons, What’s Next for California, a look at the statewide public banking movement’s milestones and future trajectory.
The report covers the California Public Banking Alliance’s leadership in passing the California Public Banking Act (AB 857), the first legislation in the nation to create a pathway for municipal public banks. CPBA’s work is cited as a model for how public financial institutions can “move public dollars out of extractive banking institutions and into investments that benefit working-class communities of color.”
CPBA is proud to be featured alongside organizers and public banking advocates from across the country committed to reimagining finance for racial and economic justice. As Trinity Tran notes in the report, “A public bank must be rooted in public interest and accountability to the communities it serves. We’re building the financial architecture to fund affordable housing, small businesses, and green infrastructure in communities that Wall Street has long ignored.”
The report features insights from CPBA along with Public Bank LA’s Legislative Director David Jette, showing how California is laying the groundwork for a network of socially and environmentally responsible public banks, designed to build economic power in low-income communities of color.
San Diego County Board of Supervisors acting Chair Terra Lawson-Remer called for bold local action in Wednesday evening’s State of the County Address, including the creation of a public bank to finance affordable housing. She stated the need for the County to step up when the federal government falls short in serving residents: “We can wait, or we can lead.”
Additional press in CBS! San Diego County Board of Supervisors acting Chair Terra Lawson-Remer called on it to take a stronger role in providing for residents, including possibly establishing a public bank to pay for affordable housing, in Wednesday evening’s State of the County Address.
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 it’s needed most. Over half of its $5 billion loan portfolio supports small businesses, farmers, and homeowners—proving 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 invested$1 billion in schools, water infrastructure, and healthcarewhile returninganother $1 billionto North Dakota’s general fund.
And when crises hit, the results speak for themselves:
2008 Financial Crisis– No North Dakota bank failed during the Great Recession. No foreclosures and no credit defaults. No other state can say the same!
Pandemic Relief– Faster, more effective small business support than Wall Street banks. Without the Wall Street middleman,BND distributed funds directlyto impacted small businesses, helping them stay afloat.
Natural Disasters–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 works—now it’s time for cities across California and the nation to take action. Let’s build it!
