Public Banking Resources for Municipal and County Policymakers in New York State

Public Banking Resources for Municipal & County Policymakers in New York State

Where we deposit our public dollars matters.

Currently, by law, local governments must hold all public deposits with commercial banks, many of which have wrecked our economy, redlined our communities, failed to equitably deliver PPP loans to our small businesses, and have continued to pour billions into fossil fuels, gun manufacturing, and other harmful industries. Local public banking – which is common throughout the world – offers a powerful alternative, and a way to leverage public deposits for needed investments in infrastructure and equitable local development. 

There is a growing grassroots movement across the State to pass the New York Public Banking Act, which would create which would create a safe and appropriate regulatory framework for local governments to establish and operate public banks. Learn more about how you can support this legislation and lay the groundwork for a public bank in your community