Los Angeles Announces Plans for the First Public Bank In California
LA’s Public Bank will be the second public banking system in the entire country
In a press conference celebrating the passage of AB 857 in front of the Los Angeles City Hall, Los Angeles City Council President Herb Wesson, along with Assemblyman Miguel Santiago (D-Los Angeles), announced that the first public bank in California would be coming to Los Angeles.
“When we began there were people who thought we were outside our minds,” began City Council President Wesson. “Yet we still stand. You folk made history.”