SF Public Bank

What if San Francisco decided to keep its approximate $10B in annual cash flow of taxpayer money in a bank that prioritizes people over profit? San Francisco's taxpayer money goes to big banks like Bank of America, which engages in socially and environmentally destructive practices. Meanwhile San Francisco struggles to fund affordable housing, homeless services, education and infrastructure. From

predatory lending practices for low-income communities of color, to funding fossil fuel extraction and pipelines, to charging The City high interest rates on loans for retrofitting our schools and hospitals and improving MUNI and BART, it's clear that banks are run to make money for wealthy shareholders and not for the benefit of those of us living in San Francisco. Imagine a bank that serves the community with a priority on people and the planet. San Francisco could have a publicly owned bank, just like we have a public airport, that seeks to promote the public welfare through equitable investments in our communities. It could be the fastest way to pool large sums of money for affordable housing. The public bank would invest in area that current banks don't, such as:

* Affordable housing
* Renewable energy
* Public transit and infrastructure
* Healthcare
* Education
* Small businesses

The public bank will be prohibited from making investments in:

* Projects that violate indigenous rights
* Fossil fuel industry
* Prison-industrial complex
* Gun manufacturers
* Luxury products and development

Our coalition is working to make this Public Bank become a reality.