Good afternoon, all!
New York is closer than ever to passing the New York Public Banking Act but we need to fight hard to push it over the finish line!
The New York Public Banking Act would pave the way for local governments to establish public banks that leverage public dollars for investments in critical community needs like affordable housing and small business development, renewable energy infrastructure, and fair financial services (check out this great 2-minute animated video to learn more about public banking).
Right now, leadership in the State Senate and Assembly is deciding what will be on the agenda for the remainder of the legislative session. Public banking has massive support from New Yorkers across the state and is co-sponsored by a majority of the Senate. However, Wall Street is lobbying hard behind the scenes to stop the bill.
We know that organized people can beat organized money, which is why it’s time for New Yorkers to call Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie and demand that they stand with New York communities and bring the New York Public Banking Act to a vote.