"Cities and counties in California will be allowed to create their own public banks, making the state one of just two to legalize institutions of that kind. The California governor, Gavin Newsom, on Wednesday signed the Public Banking Act, or AB 857, which will allow city and county governments to create, or sponsor, public banks. Those banks will in turn provide public agencies access to loans at interest rates much lower than they could find at private banks." THANK YOU FOR YOUR SUPPORT! PEOPLE POWER DEFEATED WALL STREET LOBBYISTS AND MADE THIS HISTORIC VICTORY POSSIBLE. Stay connected to the movement and join a local public banking group in your area: https://californiapublicbankingalliance.org/ We look forward to forming public banks in California and across the nation. The public banking revolution is here to stay!