Public Bank Hearing in Council

Support Public Banking Bill: Contact City Council

On Monday, December 13 at 10 AM, Philadelphia City Council ‘s Finance Committee will hold a digital public hearing to authorize the creation of a Public Bank. A public bank could hold City deposits, borrow and lend money, manage City investments, and issue bonds in a way that serves the needs of our citizens rather than serving the shareholders of big banks.

HOW YOU CAN HELP: CONTACT MEMBERS OF THE FINANCE COMMITTEE NOW AND LATEST BY DEC 10.  URGE THEM TO VOTE YES. YOU CAN FIND ALL OF THE INFORMATION YOU WILL NEED IN THE ADVOCACY TOOL KIT AT THIS LINK:

https://docs.google.com/document/d/1h30bvIMjdhFFPlBgzYCMMtpUpcImS7YufYHCH0MohuY/edit?usp=sharing

A public bank would enable the City to take its money out of major Wall St. banks and deposit them with a bank owned and controlled by the people. Those funds can be invested in community-driven projects like low-income housing, worker and consumer co-ops, solarization projects, as well as in small, minority, women-owned and neighborhood businesses. Board members would have to be nominated by organizations concerned about these community-driven projects.  See Summary of Public Bank Bill 210956

We need 5 of the 8 Finance Com members to vote YES to get the bill out of committee sp that it can move to the full City council for passage. Thank you for your support.