Idea: A Municipal Bank For Philadelphia

This Wikidelphia idea page proposes A Municipal Bank For Philadelphia.

See also Public Banking Institute

Why should Philadelphia Have Its Own Bank?

• The City can save money and even earn money by creating its own bank... The bank could bring in new revenue without raising taxes!!!

Here's a GREAT two minute video about Public Banks

• Public Banking Made Easy

A little longer video, but worth every second

• Public banking sweeps across the country

Resources

• See Philadelphia Neighborhood Networks Public Banking Action Group to connect with the people who are working on a public bank for Philadelphia
• And see Pennsylvania Public Bank Project for the team working on a public bank for Pennsylvania.
• Consider the Benefits For Cities and Municipalities Of a Public Bank (PDF).
• Coalition of grassroots groups launches “paradigm shift” campaign for #PublicBankNYC

Public Banks Are...

• Viable solutions to the present economic crises in US states.
• 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 in the public interest.
• Able to offset tax increases with returned credit income to the community.
• Ready sources of credit for local governments, satisfying the need for “rainy day” funds required to promote the public interest, as defined in their charters.
• Constitutional, as ruled by the U.S. Supreme Court.

More Videos

• no more Detroits...The Philadelphia Public Bank Solution
• The Public Bank Solution to Government Debt and Budget Shortfalls
• VIDEO: The 100 year old MODEL Public Bank: The Bank of North Dakota
• The Story of Solutions!
• The Story of Citizens United v. FEC

Articles

• Should Philadelphia start its own bank? by Joseph N. DiStefano, Phila Inquirer January 26, 2016

More

• Movement Website: Public Banking Insitute: A national movement to help states set up their own banks.
• Article: Public Banking Institute Calls Largest Wall Street Banks "Unsafe," and Backs It Up, Wall Street On Parade, August 29, 2013.
• Philadelphia Public Bank Coalition
• Philadelphia Public Bank Coalition group on Facebook
• Philadelphia Neighborhood Networks (PNN) Public Banking Action Group
• Neighborhood Networks Blog on Public Banking
  • See also Philadelphia Neighborhood Networks (PNN)

Ellen Brown

• Public Banking Institute
• The Public Bank Solution
• Podcast: It´s Our Money with Ellen Brown
• How California Could Get Its Money Out of Wall Street - Yes Magazine, updated June 7, 2018

In The News

• Inquirer Opinion column Feb 13, 2020
• American Samoa opens a Public Bank

The Bank of North Dakota

• The Bank of North Dakota website
• Wikipedia Article about the Bank of North Dakota
• Mother Jones: How the Nation’s Only State-Owned Bank Became the Envy of Wall Street
• VIDEO: Bank of North Dakota

Fels Public Banking Study

• Fels Lab Public Banking Study City Philadelphia

About Money

• The Money Project
• Visualizing Money See: The Money Project
• Idea: How To Pay For What We Need