SF Ballot Measure Could Help Establish the First City-Run Public Bank in the US

SF Ballot Measure Could Help Establish the First City-Run Public Bank in the US

The SF Board of Supervisors voted to add a measure to the November ballot that would help the city work toward establishing its own public bank, which would fund affordable housing, green energy, and small businesses — the first of its kind in the nation.

San Francisco supervisors put public bank measure on ballot

The ballot measure will create the governance structure for a public bank if voters pass it in November. San Francisco supervisors put public bank measure on ballot

San Francisco’s City-Run Bank Bet Lands On The Ballot

After a 9–2 Board vote, San Francisco will vote Nov. 3 on a charter amendment to create a municipal finance corporation — a step toward a public bank.

Public bank moves forward

A City Charter amendment that could lead to the creation of a public bank cleared the Board of Supes today—with to members voting against it. That means the voters will have the opportunity in November to start the process of creating an alternative financial institution that could provide financing and consumer services that private banks won’t. It could set a national precedent. This is, in other words, a big deal. Alan Wong, who once identifi…