San Francisco Public Bank Coalition
From Wall Street to Our Streets.



 Resolution Calling for the Implementation of a Municipal Bank in San Francisco


WHEREAS San Francisco taxpayer money currently goes to private banks that engage in socially and environmentally destructive practices that are fundamentally against the values of San Franciscans; from predatory lending practices for low-income communities of color, to financing fossil fuels, firearms, prisons, to charging The City high interest rates on loans for retrofitting our schools and hospitals, and;

WHEREAS a municipal bank would allow the city to have more local control, transparency, self-determination, and allow us to move in a direction to achieve sustainable community investments such as affordable housing, loans to low-income households, student loans, small business cultivation, community-based financial institutions, renewable energy, public transit infrastructure, public education infrastructure, and healthcare infrastructure, and;

WHEREAS a recent report from the City’s Budget and Legislative Analyst noted that “a public bank would be better equipped to meet the city’s business needs and public policy goals”, prompting Treasurer José Cisneros to convene a Municipal Bank Feasibility Task Force as recommended by the Board of Supervisors (via Resolution 152-17) to identify and pursue opportunities to create a municipal bank;

WHEREAS, community based and labor residents have much at stake in ensuring that public resources -- tax dollars and public assets serve first and foremost the public good over the profits of a few wealthy wall street investors;

THEREFORE BE IT RESOLVED that the [ORGANIZATION/CLUB] supports the creation and implementation of a Municipal Bank.

BE IT FINALLY RESOLVED, that copies of this Resolution be sent to the Mayor of San Francisco, members of the San Francisco Board of Supervisors, San Francisco Office of the Treasurer and Tax Collector, and the San Francisco Office of the Controller.