|
John,
Elitist Wall Street banks dominate the American financial system while communities and small businesses suffer. We need a public banking option for communities & small businesses — we deserve to keep our money invested at home.
In hopes of doing just that, The Public Banking Act of 2023 was just introduced. The bill would build a regulatory framework that would allow public banks to succeed. It would also set baseline standards for public banks concerning “environmental justice, tenant protections, labor standards, democratic governance, and consumer data privacy.”
Sign this petition to become a grassroots co-sponsor of the Public Banking Act of 2023 now!
There are viable alternatives to the Wall Street monopoly profit-taking model — and they’ve seen success worldwide, even here in the U.S. Over 900 public banks are currently operating globally, holding $49 trillion in assets. The Bank of North Dakota has successfully operated for 105 years, putting millions of dollars into the state’s general fund every year while offering lower-cost banking services to the state’s residents and maintaining stability in the financial crisis of 2008.
It’s been proven that public banks can save municipalities and states money, create jobs and boost the local economy. They can also lend counter-cyclically to blunt the impact of Wall Street’s ups and downs. According to the Public Banking Institute, public banking allows “communities to declare their independence from risky, expensive, for-profit banks, and keeps taxpayers’ money working at home.”
It’s time that we form an economy that works for everyone, not just wealthy elites. Sign on now to become a grassroots co-sponsor of the Public Banking Act of 2023.
Thanks,
Democratic Values
|
