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HB236 to be heard by House Appropriations and Finance Committee (HAFC) this Wednesday
By Alliance for Local Economic Prosperity – The New Mexico Public Banking Act hearing originally scheduled for the HAFC on Tuesday, March 2nd will now be heard on Wednesday, March 3rd at 1:30pm. Let your voice be heard! Offer public comment during the hearing on Wednesday, March 3rd at 1:30pm.
The Pandemic Is Pushing Cities to Rethink How to Drive Capital to Small Business
By Oscar Perry Abello, Next City – State and local governments are using an assortment of tools to push money in the direction of the people and businesses hit hardest by the pandemic — which happen to be disproportionately Black, Indigenous or other people of color. Across the board, progressive legislators are convinced that new public banks would make an economic recovery more equitable, and potentially re-shape banking sectors to be more locally oriented and responsive to local credit needs.
Chicago Aldermen Push Banks Doing Business With The City For More Equitable Lending
By Linda Lutton, WBEZ Chicago – On Monday, Chicago aldermen refused to vote on an annual measure certifying 13 banks as “municipal depositaries,” and openly questioned why the city should keep its money with banks that don’t lend equitably. “JPMorgan Chase only did 1.9% of their [home purchase] loans in Black communities. Bank of America, 2.89%,” said Ald. Daniel LaSpata, 1st Ward, at the finance committee hearing, citing reporting from WBEZ and City Bureau. “How do we make that case to Chicagoans that these institutions should be generating any revenue from our city?”
San Francisco may usher in a new era of public banking
By Glenn Daigon, Who.What.Why – There are signs that the anger against the banks fueled by the 2008 crash, as well as dissatisfaction in how Wall Street invests the public’s money, has opened the door for another option: public banking. Public banks are financial institutions that are owned by one or more public entities, such as a city, county, or joint-powers authority. They can invest, lend, and provide banking services to the local community, and can partner with local financial institutions.
Public Banking Act Stands to Lift State Out of Poverty
MK Mendoza, KSFR | February 17, 2021 Wake Up Call's MK Mendoza speaks with folks from the Alliance for Local Prosperity about The Public Banking Act being put through this legislative session. It proposes to boost the local economy and lift the state out of poverty....
HB236 to be heard by House Commerce and Economic Development Committee (HCEDC) this Wednesday
February 16, 2021 – The New Mexico Public Banking Act will be heard in the HCEDC this Wednesday, February 17th at 1:30pm. Contact committee members today in support of HB236. Call or email each one. Offer public comment during the hearing on Wednesday, February 17th...
Challenging Misinformation About a NM State Public Bank
Challenging Misinformation About a NM State Public Bank
By Retake Our Democracy | February 11, 2021
Angela Merkert, Executive Director of Alliance for Local Economic Prosperity spoke on Saturday with Paul Gibson on Retake Our Democracy on KSFR Santa Fe Public Radio about what a State Public Bank is, and what it isn’t.
VIDEO Challenging Misinformation About a NM State Public Bank
San Miguel County Commissioners Support a Public Bank for New Mexico
February 11, 2021 At a meeting of the San Miguel County Board of Commissioners on Tuesday, February 9, commissioners voted in support of establishing a state public bank, a measure that is also working its way through the state legislature. Dee and George Gamble, who...
San Miguel County Votes in Support of a Public Bank for New Mexico
By Phil Scherer, Las Vegas Optic – At Tuesday’s meeting, commissioners voted in support of establishing a state public bank, a measure that is also working its way through the state legislature. Dee and George Gamble, who presented to the commission, say that establishing a public bank would help keep more money in the state, and out of big corporations, which they said would help the state’s economy.
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Episode: Everyone deserves a public bank
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
Retake Our Democracy