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Community-Owned Commercial Real Estate Is Having A Moment

Community-Owned Commercial Real Estate Is Having A Moment

By OSCAR PERRY ABELLO at NEXT CITY Earlier this year, Crystal Ortiz started walking up and down Kensington Avenue looking for a proper storefront she could rent out for her growing business. When she found it right down the street, she was delighted that she didn’t...

Hear Us: Public Banking for Racial Justice

Hear Us: Public Banking for Racial Justice

June 8, 2022 | Next City Op-Ed, by Lebaron Sims – More than a decade after the Great Recession, America is again experiencing a supply-side recovery. Whether via the $700 billion bailout of 2008 or the unchecked exponential growth of 2022, commercial banks and financial corporations eat first – while most Americans, especially the working-class Black and Brown communities most affected by crisis, struggle without support. Then and now, that contrast is particularly sharp in New York City, a global center of finance, the home of countless banks, and an early epicenter of the pandemic. Members of Public Bank NYC (PBNYC), a coalition of organizations and other stakeholders committed to financial justice in New York City, had another vision, rooted in racial equity and environmental justice.

REPORT: Public Banking Key to Building Community Wealth in New York City

REPORT: Public Banking Key to Building Community Wealth in New York City

May 26, 2022 | DEMOS – Wall Street has a long history of putting profits over people. The big banks perpetuate structural racism in housing, labor, and climate. Instead of serving the public good, they prioritize shareholder returns over the needs of people and communities. A public bank in New York City would help combat the racist and extractive banking system and build community wealth. Each year, the City of New York moves tens of billions of public dollars through Wall Street banks—the same banks that persistently redline NYC’s neighborhoods of color, that finance private prisons, fossil fuel extraction, and other destructive industries.

Wells Fargo Rejected Half Its Black Applicants in Mortgage Refinancing Boom

Wells Fargo Rejected Half Its Black Applicants in Mortgage Refinancing Boom

March 10, 2022 | by Shawn Donnan, Ann Choi, Hannah Levitt and Christopher Cannon
When Mauise Ricard III paid a $560.43 application fee to Wells Fargo & Co. on Valentine’s Day in 2020 to refinance his mortgage on a four-bedroom brick colonial in a leafy suburb of Atlanta, he had every reason to expect an easy ride. The Microsoft Corp. engineer is married to a doctor and has a credit score north of 800, putting him in America’s credit elite. The loan officer at the bank even told him he was probably eligible for a fast-track appraisal.

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It's Our Money with Ellen Brown

Episode: Everyone deserves a public bank

Join those who’ve endorsed a Public Bank for New Mexico

Paul Gibson endorses Public Banking NM

“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
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