The Public Banking Institute (PBI) is a non-partisan research and advisory organization based in Sonoma, California, dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitating their implementation. See http://PublicBankingInstitute.org. As a non-profit educational entity with Section 501c3 status pending, it is not our principal role to advocate for legislation, but we hope to be able to supply some useful information.
• Potentially available to any-sized government or community
able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate transparently according to applicable banking regulations
• Able to offset pressures for tax increases with returned credit income to
• Ready sources of affordable credit for local governments, eliminating the need for large “rainy day” funds.
• Required to promote the public interest, as defined in their
• Constitutional, as ruled by the U.S. Supreme Court
• Boondoggles for bank executives; rather, their employees are
salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.
• Speculative ventures that maximize profits in the short term,
without regard to the long-term interests of the public.