top
Newswire
Calendar
Features
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature
Thu Oct 26 2017 (Updated 10/28/17)
Oakland Public Bank Promises Benefits for Community and Cannabis Industry
Study to Start for Public Bank of Oakland as Alternative to Corporate Financial Services
Oakland will spend $75,000 on a study to examine the feasibility of establishing a public bank in that city. The impact on the cannabis industry would be huge, because most corporate banks do not conduct business with the cannabis trade even where their operations are legal, they pay taxes and employees are hired. Without bank issued credit cards, business transactions must be conducted in cash. Even filing taxes with the IRS is problematic.

Nearly all large corporate banks are involved in unethical practices of one kind or another whether it be prisons, fossil fuel projects, or weapons manufacturing. A public bank would also allow people of conscience to bank without supporting unconscionable investments.

On October 23rd protesters in Palo Alto demanded that banks stop financing human rights abuses, repression of indigenous rights, and desecration of the earth. There was much discussion in the crowd about closing accounts from the Big Banks. A representative from the advocacy group Friends of the Public Bank of Oakland addressed the crowd about this new kind of banking. She said Oakland residents working on the project want to see a public bank flourish that helps the community and provides an example for other jurisdictions wishing to rid themselves of their dependence on Wall Street banks.

A Public Bank of Oakland Could Provide Financial Services to Cannabis Industry | photo Protesters Demand Banks Stop Financing Desecration of the Earth | FriendsofPublicBankofOakland.org
04/21/18 750 Public Interest Groups Urge Halt to New Oil and Gas Projects in California Front Page | Environment & Forest Defense | Health, Housing & Public Services | California04/21/18 Two NorCal Cities Take Lead in Regulating Spying and Surveillance Equipment Front Page | Police State & Prisons | Central Valley | East Bay | Government & Elections04/19/18 Prisoners United of Silicon Valley Demand Human Treatment in County Jails Front Page | Police State & Prisons | Racial Justice | South Bay04/19/18 CodePink Protests Syrian Bombings at San Francisco Homes of Feinstein and Pelosi Front Page | Anti-War | San Francisco | East Bay | U.S. | International04/16/18 March for Science Rally and Street Fair Front Page | Environment & Forest Defense | East Bay04/08/18 Protesters on Facebook Campus Say Zuckerberg Is the Bad Actor Front Page | Media Activism & Independent Media | Peninsula | Government & Elections04/07/18 Democratic Delegation Visits Israel on 70th Anniversary of the Nakba Front Page | Anti-War | Government & Elections | Palestine | Santa Cruz Indymedia04/04/18 17 Killed by Israeli Soldiers During Land Day Protest in Gaza, Over 1,400 Wounded Front Page | Anti-War | U.S. | International | Palestine04/04/18 Bay Area Queers Spread Palestinian Teen Ahed Tamimi’s Image Far and Wide LGBTI / Queer | Womyn | Arts + Action | San Francisco | East Bay | International | Palestine04/04/18 Pueblo Sin Fronteras Denounces Calls for Violence Against the Refugee Caravan Front Page | U.S. | International | Americas | Immigrant Rights04/02/18 NLG Confronts CHP and Sheriff on Abuse of Stephon Clark Demonstrators and Legal Observers Front Page | Police State & Prisons | Racial Justice | Central Valley
Related Categories: East Bay | Peninsula | Environment & Forest Defense | Global Justice & Anti-Capitalism | Racial Justice | Front Page