The California Public Banking Alliance (CPBA) received the Equitable Futures Award at the California Reinvestment Coalition award gala. Our important work in public banking and commitment to creating a more just and equitable economy for Californians was recognized in a stellar ceremony held in Los Angeles on November 3, 2022. The Public Bank LA (PBLA) team was proud to represent the Alliance.
CPBA and PBLA’s lead organizer, Trinity Tran, accepted the award on behalf of our all-volunteer statewide coalition for our work establishing two historic public banking bills in the California State Legislature, paving the way for the national public banking movement.
The passage of the California Public Banking Act (AB 857) made California the first state in the nation to authorize the chartering of local public banks. CPBA followed that the next year by securing passage of the California Public Banking Option Act (AB 1177) which will provide universal financial services to unbanked and underbanked Californians.
These legislative victories will bring responsible banking services to municipalities and the general public, ensuring that cities can reroute scarce public dollars to fund essential services while enabling people to determine the future economic development of their communities. Additionally, these measures will aid in removing racial and economic inequities by making essential banking services accessible to all.
CPBA was recognized alongside our coalition compatriots SEIU California State Council, the largest public sector union in the state, and Assemblymember Miguel Santiago for championing progressive legislation, including the two public banking bills. The Alliance joined community members, allies and banking partners to celebrate the impact of our collective work on local communities.
Our coalition of public banking activists throughout California was founded in 2018 to create socially and environmentally responsible city and regional public banks. Since then, we’ve expanded our focus to make free basic banking services like check-cashing, direct deposit, and debit card accounts available to all Californians, removing barriers to financial stability that stand in the way of many working families.
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