Dear Friend, You’ve been hearing from us about the exciting movement to create a public bank in NYC. Here’s how you can join the effort today: Right now, billions of dollars in City money–our money–are on deposit with Wall Street banks. These are the same banks that have profited off the COVID-19 crisis and continue to harm our communities–and the planet–including through persistent redlining and financing of destructive industries like private prisons and fossil fuels. It doesn’t have to be this way. The Public Bank NYC Coalition, launched and co-led by New Economy Project, is fighting to create a public bank to hold City funds and invest in deeply affordable housing, community-led financial and worker cooperatives, and other critical community needs. Through a public bank, NYC can divest from Wall Street and invest in a racially and economically just future. The next step in this process is for the City Council to pass two bills–Intros 2099 and 2100. This legislation, the first in a series of bills to establish a NYC public bank, creates critically-needed public transparency about exactly where our public dollars are on deposit at any given time. |
