The proposal to create a public bank for San Francisco, in order to provide an alternative to big banks for the city’s investing and lending needs, is moving incrementally from concept toward reality. A group of experts in relevant fields, from finance to affordable housing, has been selected to start to devise a business plan for a public bank. Fernando Martí, co-director of the Council of Community Housing Organizations, and Sylvia Chi, principal co-author of AB 857, California’s Public Banking Act and a member of the California Public Banking Alliance, talked with “Civic” about how a public bank would work — including how it would be run and how it might help in the development of affordable housing — and how long it might take before such a financial institution is established.
A segment from our radio show and podcast, “Civic.” Listen daily at 8 a.m. and 6 p.m. on 102.5 FM in San Francisco, and subscribe on Apple, Google, Spotify or Stitcher.
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