Summary
Berkeley voters might get to vote on setting up California's first public bank, which could completely change how the city handles its money and local economic policies. This is a huge deal for municipal finance and could set a brand new trend for the state.
At a glance
- Total mentions
- 4
- Last 30 days
- 4
Impact analysis
It could shift where the city keeps its money, potentially freeing up funds for local projects, but setting it up will cost a pretty penny upfront.
Local businesses and community projects could get easier access to loans and funding tailored specifically to Berkeley's needs.
Traditional commercial banks currently holding city deposits could lose out on lucrative municipal accounts.
Mentions & discussions (5)
Should Berkeley fund a public bank for the East Bay? Voters will decide in November
The nationwide campaign for local and state-level public banks grew out of the Occupy movement, itself a result of the 2008 financial crisis. In 2011 protesters in Berkeley, as in hundreds of other cities, rall...
Berkeley Considers Starting a Public Bank With Taxpayer Dollars
Berkeley Considers Starting a Public Bank With Taxpayer Dollars The New York Times
Vote yes on Measure Z for a Berkeley public bank: Op-ed
Community "We deserve a financial institution guided by the needs and values of Berkeley, with the benefits … flowing back to our community." A public bank offers a way to bring our money and our values close...
4 questions to ask before you vote on Measure Z: Op-ed
Community Measure Z asks Berkeley taxpayers to fund a regional bank without requiring neighboring cities to contribute, the authors write. Measure Z would be used to start a regional public bank for the East ...
Berkeley ballot measure seeks to establish first California public bank
Berkeley ballot measure seeks to establish first California public bank dailycal.org
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