March 21, 2023

Central Coast - People for Public Banking Central Coast are optimistic that Santa Cruz County may soon issue an RFP for a Central Coast Public Bank viability study.

East Bay - The East Bay Viability Study was approved by Oakland in January 2023 and Richmond in April 2022. Berkeley is expected to approve the study in April 2023. There have been fundraising efforts by SF Foundation and East Bay Community Foundation who hosted two “convenings” including an introduction to public banking from David Chiu and Eric Hardmeyer—the recording is available here. Gary Findley, the East Bay consultant, has vetted most of the bank board candidates and is working on the business plan.

Los Angeles - The City of Los Angeles’s Chief Legislative Analyst’s office has issued the RFP for the Los Angeles public bank viability study and business plan. Public Bank LA is actively working to secure funding in the city's budget to ensure the consultants can begin their work. To further strengthen the Los Angeles public bank's business plan, the Berggruen Institute and Jain Family Institute have assembled five working groups to analyze critical areas of the Los Angeles public bank: affordable housing, small business lending, employee ownership, climate-centered lending, and financial justice. The report's completion is anticipated early-to-mid 2023.

Los Angeles County - There are ongoing discussions on the formation of a Los Angeles regional public bank including the County and multiple cities.

Pomona Valley - The Public Bank Pomona Valley study group has met monthly since 2019, hosted online Town Halls, sent quarterly newsletters to our mailing list, supported the efforts of CPBA, and met with local elected officials and civic groups to educate and inform about public banking efforts. Visit to find out more.

San Francisco - There have been regular meetings of the Reinvest in San Francisco Working Group (RWG), community representatives, and financial experts charged with developing a public bank business plan for SF. SFPBC is proposing a governance plan to the Working Group, as well as offering input for community engagement with consultants from Contigo who will convene focus groups with various sectors of the community. The bank plan consultant, HR&A Associates, is moving forward on plans for a revolving loan fund that will transition into a public bank by 2028.

CalAccount (AB 1177), the California Public Banking Act - AB 1177 creates the CalAccount Blue Ribbon Commission tasked with producing a market analysis of the CalAccount program. Upon implementation, CalAccount will provide free, universal financial services to unbanked and underbanked Californians. The Commission, which is chaired by California State Treasurer Fiona Ma, convened in September 2022 and meets on a monthly basis. CalAccount 2023 meetings are accessible to the public, and the agendas are available on the Treasurer's website.