San Francisco just took a huge step forward to establish a public bank! The Board of Supervisors unanimously approved a resolution by Sup. Sandra Lee Fewer that puts the city on record supporting state legislation that would authorize local government bank charters- the proposed California Public Banking Alliance bill!

The Board of Supervisors urged the state to create a public banking charter on Tuesday, its first formal show of support for a movement to break from Wall Street.

Supervisors unanimously co-sponsored and approved a resolution that backs publicly-owned bank and called for state legislators to allow local jurisdictions like San Francisco to proceed. Supervisor Sandra Lee Fewer introduced the resolution days the same week the Treasurer’s Office released its draft report of what a public bank could look like.

Continue reading: http://www.sfweekly.com/news/the-time-is-right-for-s-f-to-get-a-public-bank/