PUBLIC BANKING: The shortcomings of Wall Street banks have manifested in widespread economic disparity and social injustice. Their practices are blatantly discriminatory and predatory, contributing to a rigged economy that prioritizes private profits over the livelihoods of the masses.

The evidence of Wall Street’s failure is evident in the persistent economic inequality and the ever-widening racial wealth gap, making the establishment of an alternative banking model imperative.

In the shadow of the pervasive failures of Wall Street-run banks, the Public Banking Act will fight the entrenched economic inequities that plague the United States. The reintroduction of this Act by Representatives Rashida Tlaib and Alexandria Ocasio-Cortez will fight systemic flaws of our current financial system and bring a new era of economic justice.

The Public Banking Act is a blueprint for a transformative financial system. It calls for the establishment of public banks that are accountable to the people and committed to serving the public interest.

Help take on the banking industry. Sign on as a grassroots co-sponsor of the Public Banking Act now!

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The state-owned Bank of North Dakota (BND) is an example of the success of public banks. For over a century, BND has played a pivotal role in supporting small businesses and fueling state revenue. Its success proves that a financial institution can serve the public good.

The Public Banking Act provides a comprehensive framework, including federal charters for public banks, Federal Reserve membership, liquidity, and grant programs, and stringent standards relating to environmental justice and consumer protection.

This framework is a necessary and decisive step towards redirecting financial power from the elite few to the hands of the people.

The bottom line is that the Public Banking Act will end the deep-seated injustices perpetuated by Wall Street banks by making a financial system that is inclusive, accountable, and serves the many, not the few.

We must take advantage of the once-in-a-generation opportunity to overhaul a corrupt and inequitable financial system. Sign on as a grassroots co-sponsor of the Public Banking Act now!

Let’s keep fighting to transform our financial system into one that truly serves the public interest.

Link: https://actionnetwork.org/forms/tows-banking-act/

Via - TakeItBack.org