Endorse Oakland's efforts to create a public bank
In Plain English
Oakland is exploring creating a city-owned bank that would hold public funds and make local loans. Friends of the Public Bank of Oakland will present their proposal to Richmond's council. If approved, Richmond formally supports Oakland's bank effort and agrees to study partnering with any future public bank in the region.
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Votes
Motion · Official minutes
Adopt resolution to endorse Oakland's public bank efforts
6 aye · 1 nay
Why This Vote Matters
Richmond will formally support Oakland's effort to create a public bank, with the council voting 6-1 to endorse the proposal. A public bank would be owned by the city and could hold public funds while making loans to local businesses and residents, rather than using private banks. The resolution also commits Richmond to studying whether it might partner with any future regional public bank. Mayor Butt was the sole dissenting vote, while the other six council members supported the measure.
Auto-generated context based on official minutes.
Comment records
1 comment record available here. 1 recorded as spoken. One person can appear in several records; this is not a count of residents or a measure of public opinion.
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