AB 857 – California Globe

LA City Council Approves First Steps Towards Creating Public Bank

June 20, 2023 5:55 pmJune 20, 2023 5:57 pm

The Los Angeles City Council voted 12-0 on Tuesday to pay for consultants to look into creating a public bank within the city. Public banks, which are banks run by a city or county, have been a hot topic in...

Miguel Santiago introduced the free tuition bill.

Bill That Would Establish a California Run “I-Bank” Polarizes State Lawmakers

July 10, 2020 3:51 pmJuly 13, 2020 9:04 am

A new bill in the Assembly would create a publicly owned state bank that would give loans to city governments and small businesses, has gained traction during the extended legislative recess and has become poised to be one of the...

Los Angeles Announces Plans for the First Public Bank In California

October 7, 2019 1:40 pmOctober 8, 2019 7:34 am

In a press conference celebrating the passage of AB 857 in front of the Los Angeles City Hall, Los Angeles City Council President Herb Wesson, along with Assemblyman Miguel Santiago (D-Los Angeles), announced that the first public bank in California...

Public Banks Bill Signed Into Law By Governor Newsom

October 2, 2019 4:54 pmOctober 3, 2019 12:10 pm

Public banks, banks that are run by a city or county, can now open in California following the signing of Assembly Bill 857 by Governor Gavin Newsom. AB 857 states that any public bank in California must go through the...

RECAP: AB 857, Creating Public Banks In California

September 24, 2019 7:00 pm

After being struck down in years past, AB 857 is a signature away from making public banks in California a reality. What is it? Assembly Bill 857. According to AB 857, whose framework is largely based on the only current...