The California Public Banking Alliance (CPBA) is covered in a Dec. 9, 2025 article in Crainâs Chicago Business. California is on the leading edge of this fight, and CPBAâs Trinity Tran puts the stakes plainly: many funding streams will be hit by federal volatility, which is why public banking feels urgent right now. âThe power of a public bank is that you can maximize the impact of public dollars at scale.â For CA, thatâs the promise of building on the California Public Banking Act and turning public money into long-term community capacity.
We had people tuning in from 39 states and even abroad for this powerful conversation with movement leaders from across the country. Senator Warrenâs 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 weâve 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 Californiaâs 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 worldâs 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!Â
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 Projectâs report, Public Banks for Racial Equity: Democratizing Finance to Build Community Wealth,CPBAâs Executive Director Trinity Tran and Legislative Director Sylvia Chi presented Dispatches From the Field: Wins, Lessons, Whatâs Next for California, a look at the statewide public banking movementâs milestones and future trajectory.
The report covers the California Public Banking Allianceâs leadership in passing the California Public Banking Act (AB 857), the first legislation in the nation to create a pathway for municipal public banks. CPBAâs work is cited as a model for how public financial institutions can âmove public dollars out of extractive banking institutions and into investments that benefit working-class communities of color.â
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, âA public bank must be rooted in public interest and accountability to the communities it serves. Weâre building the financial architecture to fund affordable housing, small businesses, and green infrastructure in communities that Wall Street has long ignored.â
The report features insights from CPBA along with Public Bank LAâs 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 eveningâs 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: âWe can wait, or we can lead.â
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 itâs needed most. Over half of its $5 billion loan portfolio supports small businesses, farmers, and homeownersâproving 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 healthcare while returning another $1 billion to North Dakotaâs general fund.
And when crises hit, the results speak for themselves:
2008 Financial Crisis â No North Dakota bank failed during the Great Recession. No foreclosures and no credit defaults. No other state can say the same!
Pandemic Relief â Faster, more effective small business support than Wall Street banks. Without the Wall Street middleman, BND distributed funds directly to impacted small businesses, helping them stay afloat.
Natural Disasters â 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 worksânow it’s time for cities across California and the nation to take action. Letâs build it!
Welcome to the June edition of the CA Public Banking Alliance (CPBA) Newsletter! We’re excited to share insights into the transformative power of public banking in California and beyond. Explore our technical brief, learn about our initiatives to ensure financial inclusion through CalAccount, and find out how you can support the ongoing banking revolution. Plus, we celebrate a historic milestone in Public Bank East Bay’s public banking progress!
CA Public Banking Alliance Technical Brief: Exploring the Mechanics and Benefits of Public Banks
Discover the transformative potential of public banking with the CA Public Banking Alliance Technical Brief. Our newly designed comprehensive guide covers essential topics, including:
Mechanics of a Public Bank: Understand how public banks operate and their fundamental principles.
Start-Up Capital and Lending Funds: Learn about various methods to acquire the necessary capital and funds for lending.
Sustainability: Explore strategies to ensure the long-term viability of a public bank.
Advantages of Public Banks: Discover the numerous benefits, from fostering local economic growth to supporting community projects.
Examples of Public Banks: Examine successful public banks in the US, and around the world, and their impact.
Financial Components: Gain insights into the financial structures that underpin public banking.
Risk Management: Identify the risks involved for both the public and the sponsoring entity and learn effective risk mitigation strategies.
Rate of Return: Get projections on the expected return on initial capital investments.
Municipal Finance Corporations: Learn about these entities and their role in public banking.
Green Banks: Understand the concept of green banks and their importance in driving sustainable projects.
Historic Resolution for East Bay Public Bank Charter Passed
On May 29, 2024, Richmond, CAâs City Council unanimously passed a resolution authorizing East Bay Public Bank organizers to apply to state and federal regulators for a bank charter. This is the first such government resolution in the U.S. in 100 years! Congratulations, Richmond!
Save the Date! CalAccount Town Halls in Los Angeles and Sacramento on July 18th!
Earlier this year, we held a series of statewide town halls attended by hundreds of people in coordination with the State Treasurerâs Office to uplift the voices of those affected by Wall Streetâs harmful and unfair banking practices. On July 18, 2024, in preparation for the release of the final CalAccount market analysis report, weâll be convening our second town hall in Los Angeles and Sacramento. Your voice matters in bringing free banking to California. Stay tuned for details! CalAccount was featured in La OpiniÃģn, the US’s largest Spanish-language paper. Read the coverage: RevoluciÃģn bancaria en favor de los mÃĄs vulnerables (Banking revolution for the most vulnerable; see English translation).Â
Endorse CalAccount: Empower Californians with Free Financial Services
Join over 250 organizations in supporting CalAccount, a groundbreaking initiative to provide free financial services for all Californians. Over 30 percent of Black and Latina/Latino households are unbanked or underbanked. By endorsing CalAccount, your organization will help support financial inclusion, reduce the unbanked population, and ensure that all residents have access to essential banking services without the excessive fees, fines, penalties, and barriers posed by Wall Street banks and commercial financial institutions. Endorse CalAccount today by signing our organizational support letter. If you have already endorsed, please reaffirm your commitment by signing our 2024 endorsers letter. Join the movement and stand with our growing list of supporters by viewing the links below. Sign On to Endorse CalAccount and our 2024 Endorsers Letter View the Endorsers List
Support the Banking Revolution: Donate Today!
In 2019, the California Public Banking Alliance (CPBA) achieved a historic milestone with the passage of the California Public Banking Act (AB 857). Building on this success, our all-volunteer team and dedicated allies championed the California Public Banking Option Act (AB 1177) in 2021, which will make universal free banking services a reality. Now, weâre focused on turning these groundbreaking legislations into tangible change. Our team is working tirelessly to establish local public banks across California and guide the CalAccount program to fruition.
Every dollar you donate is tax-deductible and directly supports our mission to open public bank doors and provide free banking services to all Californians. Your generosity will make a real difference in the lives of California communities. Thank you for your support. Donate Now
