Gabrielle Canon, writing for the East Bay Express, the pre-eminent free weekly in our part of the world, interviewed our own Susan Harman, along with councilmember Rebecca Kaplan and others, for this excellent article:
It hasn’t been easy — especially after Gov. Jerry Brown killed an initial state-level campaign — but six years later and Harman might finally witness a public-bank reality in her hometown.
Oakland is now considering establishing one of the first city-owned banks in the country. Officials argue that the bank could provide affordable financing for city initiatives, small businesses, and low-income residents.
Oakland’s bank could also accept the billions of dollars in capital from California’s cannabis industry, which cannot deposit money at commercial banks due to pressure from the feds.
“Public banking is a great way for us to put our money where our values are,” Councilmember Rebecca Kaplan told the Express.