Press Room & Media
Grain Collective, a five-person landscape architecture firm in Brooklyn, designed this public plaza for the Brooklyn Academy of Music. Thanks to the Fed's Main Street Lending Program, Grain Collective may last to design many more spaces. (Photo by Oscar Perry Abello)...
By Michael Tashji, Taos News – Community activists have renewed their efforts to create a New Mexico public bank, designed to provide needed capital for jobs and infrastructure spending across the state. The initiative, to be introduced in the 2021 legislative session, could keep much more of New Mexico’s money in the hands of local communities, according to supporters.
By Bob Master and Mark Levine, The Nation – Bad behavior in banking is nothing new. From redlining, to the foreclosure crisis to high-interest payday loans, mainstream financial institutions have long exacerbated racial inequality. Public banking offers a better way. A bank created and controlled by our city government would be driven not by profit motive but by the public interest.
By Kyle Land and Theresa Davis, Albuquerque Journal – Ranchers across New Mexico are selling off large portions of their cattle, in some cases more than half their herds, as drought has ravaged what little grassland remains. When grass withers away, ranchers may turn to government programs to make ends meet.
By Kevin Robinson-Avila, Albuquerque Journal – Sacred Wind Communications is using a $6.1 million federal grant to extend broadband coverage in rural Sierra County through a new partnership with Sierra Electric Cooperative. Sacred Wind CEO John Badal hopes it will inspire more joint efforts, ideally through a statewide strategy to replace individual, isolated projects with a centrally-coordinated approach to bridge the digital divide.
By Dee Gamble (AFLEP), Green Fire Times – How do we climb out of a seemingly intractable situation in the face of ongoing damage being caused by the coronavirus? A public bank for New Mexico: a bank with a “common good” purpose and resources to build community wealth in every village, town and city, can be the primary engine for such a far-reaching transformation.
By Kyle Land, Albuquerque Journal – Senate Bill 4, passed during the 2020 special legislative session, sought to ease the process of voting and address issues that arose during primary elections in June, most of which stemmed from the COVID-19 pandemic. Part of that was requiring each polling site to have internet connectivity. Those that had none — almost all of which were rural communities — were closed and became “allmail” precincts.
By Thomas Marois and Maria Jose Romero, In Depth News – Public development banks – and here we are talking about multilateral institutions, but also often overlooked national banks like Germany’s KfW, India’s NABARD, Colombia’s Findeter, and the Development Bank of Southern Africa – are in a unique and powerful position to play a major role in tackling the crises arising in today’s world.
By Nik MIlanovic, Forbes – Banking in the United States has become – like many other critical services – stratified along class lines. Consumers with more assets and higher spending are rewarded for being customers with benefits like high APYs and robust credit card points. Poor consumers, meanwhile, are taxed for using financial services through fees and high APRs. It is time for regional municipalities to create public, state-owned local banks focused on driving 100% financial inclusion.
By Katherine Lewin, Santa Fe Reporter – The COVID-19 pandemic’s economic devastation has exacerbated another lingering problem in New Mexico: food insecurity. In a bid to alleviate New Mexicans’ worsening battle with hunger on a county level, the Santa Fe County Commission passed a resolution Tuesday to implement a new plan for improving access to local and regional produce and meat.