Show threadKevin Karhan Sep 17, 2025

That being said #CreditUnions are obviously better and my #bank is a #cooperative where I'm also a #shareholder and everyone only can get 1 voting share maximum, regardless if they buy €11 or €11.000 in shares.

  • Similarly #PublicBanks are common with #Sparkasse being the big one that basically has to offer people accounts (abeit at shit terms) and can only fire clients if they commit felonies [against the bank or it's employees] like Money Laundering with it.

But: THOSE ARE NOT "SOLUTIONS" FOR THE COST OF LIVING CRISIS!

You know what would be?

Right Now #Germany is on track to reach €15/hr and [as of writing] the Mininmum Wage in Germany is €12,82 [or U$D 15,19 as of current exchange rate].

#USpol #Finance

Billionaires Found a New Way to Steal Your Paycheck

YouTube
Dr. Baba Kofi WeusijanaJul 20, 2025
#India Launches #GENERALSTRIKE Against #Modi | MILLIONS Protest | #Communism #Worker #Organizing | Jaybe
#Strike #IntPol #InternationalPolitics #solidarity #privitization #publicbanks #bigbanks #capitalism #usnews #uspolitics #RevolutionaryBlackoutNetwork #classwar #cronycapitalism #Trump #workingclass #mutualaid #dualpower
https://www.youtube-nocookie.com/embed/TrGFKBTIPfM
Emeritus Prof Christopher MayOct 24, 2024

Around the world 1115 Public Banks (owned by the state) have assets of over $91 trillion... whether they act in the interests of the public is at least partly shaped by whether there is any form of democratic accountability.

However, it is very much a mixed ecology with a range of missions and foci.... this helpful two page briefing lays out the shape of the sector for those who are less familiar with these institutions.

#economics #PublicBanks #democracy

https://publicbanking.mcmaster.ca/app/uploads/2024/09/PBP_EB_2024_02.pdf

Public Bank East BayDec 18, 2023
12/13/2023: Tlaib, Ocasio-Cortez Introduce #PublicBanking Act, which facilitates the creation of state and local #PublicBanks
The bill establishes a robust federal regulatory framework, grant programs, and financial infrastructure to promote public banks and ensure their success. The bill also mandates minimum standards for public banks relating to environmental justice, tenant protections, labor standards, democratic governance, and consumer data privacy. @reprashida @aoc
https://tlaib.house.gov/posts/tlaib-ocasio-cortez-introduce-public-banking-act
Tlaib, Ocasio-Cortez Introduce Public Banking Act - Rashida Tlaib

WASHINGTON D.C. — Today, Congresswoman Rashida Tlaib (MI-12) and Alexandria Ocasio-Cortez (NY-14) introduced the Public Banking Act of 2023, which facilitates the creation of state and local public banks. The bill establishes a robust federal regulatory framework, grant programs, and financial infrastructure to promote public banks and ensure their success. The bill also mandates minimum […]

Rashida Tlaib
Public Bank East BayJul 25, 2023
#PublicBanks : An Important Idea Whose Time Is Overdue
"This is precisely why many New York-based Community Development Financial Institutions (CDFIs) – including Genesee Co-op Federal Credit Union, Lower East Side People’s Federal Credit Union ($89.5 million, New York), Cooperative Federal Credit Union ($35 million, Syracuse), and Neighborhood Trust Federal Credit Union ($17.7 million, New York) – are fighting to bring #PublicBanking to New York."
https://www.cutimes.com/2023/07/24/public-banks-an-important-idea-whose-time-is-overdue/?slreturn=20230625102156
Public Banks: An Important Idea Whose Time Is Overdue | Credit Union Times

Rather than compete, public banks would partner with CUs to increase their capacity to lend, grow and meet their communities’ needs.

Credit Union Times
Gladwyn d’SouzaJun 9, 2023

So this begs the question: If the #FDIC creates temporary #publicbanks, why not make them permanent? California has been laying the groundwork that may allow us to do just that. In 2021, Assembly Bill 1177 was signed into law by Gov. Gavin Newsom to create a commission to study a statewide public banking option. And in 2019, Assembly Bill 857 amended the California Financial Code to authorize the formation of public banks; and created a #regulatory #framework for the operation of public banks.

https://www.smdailyjournal.com/opinion/guest_perspectives/it-s-time-for-a-public-bank/article_27391a5c-0408-11ee-81be-cf101fc90b1e.html

It’s time for a public bank

After the fall of First Republic Bank, Signature Bank and Silicon Valley Bank, the total assets of recent bank failures now surpasses that of the 2008 financial crisis.

San Mateo Daily Journal
Taylor UpchurchMay 13, 2023
Looking for some good reading material on #publicbanks #publicbank - what would you recommend?
Show threadKevin Karhan May 2, 2023

@bethsawin You'd have #cooperative banks - like the one I'm a customer of - who are beholden to #sustainability since it's customer-owned.

And that's why #cooperativeBanks espechally and #banks in #Germany in general are pretty stable...

[Not to be confused with asshole banks like #DeutscheBank and #PublicBanks that are regulated as #utilityProvider like #Sparkasse...

Public Bank East BayApr 29, 2023

@Thomas_Marois
Calls for #Publicbanks are heating up.
As communities dig into their real promise, let's not forget #publicbanks are powerful and contested entities that need democratic armoring.👁️

👇Open Access👇

A Dynamic Theory of Public Banks (and Why it Matters)
https://www.tandfonline.com/doi/full/10.1080/09538259.2021.1898110#.ZEOo4ol2aaE.twitter

A Dynamic Theory of Public Banks (and Why it Matters)

Public banks are pervasive, with more than 900 worldwide, and powerful, having assets nearing $49 trillion. Yet they are too often perceived as static financial institutions, based on economic theo...

Taylor & Francis
Public Bank East BayApr 15, 2023

The collapse of #SiliconValleyBank left low-income communities without billions in promised lending, despite the federal bailout that benefited the bank's wealthy depositors and new owner.

We need #PublicBanksNow

#BankingCrisis #PublicBanks
#PublicBank #PublicBanking #SVB #SignatureBank
https://www.levernews.com/regulators-stiffed-low-income-communities-in-silicon-valley-bank-bailout/

Regulators Stiffed Low-Income Communities In Silicon Valley Bank Bailout

The government rescued SVB’s wealthy depositors, but neighborhoods counting on the collapsed bank are out of luck.

The Lever