Bloomberg Law
Jan. 2, 2020, 10:45 AM

California Breathes New Life Into Public Banking Movement

Evan Weinberger
Evan Weinberger
Assistant Managing Editor

A California law allowing municipalities to create public banks has given energy to lawmakers and activists around the country looking to set up their own local financial institutions in 2020.

Lawmakers in New York that in past years have pursued legislation to study the feasibility of public banks plan to move a bill that would set the stage for their creation in the next year.

Activists in New Mexico, Pennsylvania, and at least six other states are pushing to get their lawmakers to move on legislation that would allow for public banks. While public banking legislation may face a long ...

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