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


Posts tagged taxpayer
Could San Francisco Open a Public Bank?

In the midst of the Occupy movement’s righteous anger toward big banks and their role in the Great Recession, activists floated an idea: What if state-owned banks managed public funds, like San Francisco’s $11 billion annual budget, themselves?

Advocates say public money could be invested in affordable housing, clean energy, and small businesses. Cities could fund student loans at affordable rates, instead of immigrant detention centers, oil pipelines, and other institutions San Franciscans inherently oppose. A public bank has practical applications too, like saving millions of taxpayer dollars in fees spent on financial services.

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