Group of experts developing a business plan for SF Public Bank
The proposal to create a public bank for San Francisco, to provide an alternative to the big banks for the city’s investment and lending needs, is gradually moving from concept to reality. A group of experts in relevant fields, from finance to affordable housing, were selected to begin designing a business plan for a public bank. Fernando Martí, co-director of the Council of Community Housing Organizations, and Sylvia Chi, co-lead author of AB 857, California’s Public Banking Act and member of the California Public Banking Alliance, spoke with “Civic” about how a bank government would work – including how it would be managed and how it could help the development of affordable housing – and how long it could take before such a financial institution was established.
An excerpt from our radio and podcast show, “Civic”. Listen daily at 8 a.m. and 6 p.m. on 102.5 FM in San Francisco, and subscribe on Apple, Google, Spotify or Stitcher.