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John, I'm very proud that this summer The Philadelphia Inquirer endorsed my plan to establish a public bank in our city:

Only three public banks currently exist in the United States, but momentum is building here in Philadelphia to support the folks and businesses that private banks leave behind.

John, the U.S. banking system plays a critical role in amplifying our country’s racial disparities, particularly during our economic recovery from COVID-19 — and it’s no secret that our city historically hasn’t done enough to support Black and Brown businesses.

But as The Philadelphia Inquirer reported, “a public bank might be a way to get to the heart of the problem: access to capital ... In Councilmember Derek Green’s proposal, Philly’s public bank would have the power to provide loans, issue tax-exempt bonds, and finance city construction projects for business owners who currently do not meet the underwriting criteria at most private banks.”

I’m grateful for the Inquirer’s support of my public banking initiative — now I need to know if you’re with me too. Will you add your name in support of creating a public bank in Philly to help me continue building momentum?

Add Your Name

Like The Philadelphia Inquirer editorial board said, “overcoming the racial wealth gap, providing the capital Black entrepreneurs need to succeed, and increasing the business density and economic health of the city are all essential public policy goals.”

Now it’s up to us to make these things happen, and a public bank is just one of many creative concepts I will continue pursuing to address racial equity and poverty in our city.

Please join me in the fight to overcome Philadelphia’s racial wealth gap by signing my petition in support of establishing a public bank in our city. Momentum is building, and with your help we will make this a reality:

Add Your Name

Thank you for taking action,

Councilmember Derek Green