Sacramento Observer: How Sacramento’s public banking movement plans to keep taxpayer money at home

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.”

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Read the article in Sacramento Observer.