Public Banking Act

Momentum Builds for Public Banks: Los Angeles City Council Endorses AB 857

Assemblymember Miguel Santiago (D-Los Angeles), who is a joint-author of the Public Banking Act, responded, saying: “Californians from the grassroots to the halls of power are weary of a corporate banking system that doesn’t work for them. Wall Street needs people-powered competition, and a public bank for public good is the right place to start. Council President Herb Wesson has been a bold champion of public banks for many years, and I couldn’t be more grateful for his leadership and the support we’ve seen from so many others across the state.”