What do we mean by a DC Public Bank?

A public financial institution owned by the people through their government rather than by private shareholders

The DC Public Banking Center advocates for the creation of a DC public bank that would make loans in partnership with local financial institutions.

Our Vision

A publicly owned, publicly accountable bank in D.C. which, in partnership with local financial institutions, delivers quality, sound financial services that will

help create an environmentally sustainable DC;promote local jobs, sustainable local businesses

and affordable housing in the city; and enhance the financial health of the city's general

fund.

A DC Public Bank would…

Receive DC government deposits

Process DC government payments

Issue loans in partnership with local lenders

Earn interest on its investments and loans

Benefits of a DC Public Bank

Creates new jobs and spurs economic growthPromotes a Sustainable DCEnhances the financial health and security of

the city's general fundProvides lower short-term borrowing costs for

DC governmentStrengthens small businesses

DC Public Bank can raise government revenues by…

Increasing local tax base by helping local businesses to thrive and increasing local employment

Providing short-term low-interest loans to the government

Returning dividends to the government when the bank has fully matured

When a government borrows from its own bank, the interest returns to the public. Public bank profits feed the economy rather than feeding off it.

Would a DC Public BankCompete with other lenders?

NO!

DCPB would not have local branches.

DCPB would make loans in partnership with local lenders.

Like BND, DCPB would support community banks. Today ND has a stronger system of independent banks than neighboring states.

Would a DC Public BankSpeculate in Risky Investments

Or Be Subject to Bail-Ins?NO!

DCPB would make loans in the local economy and would be forbidden from speculating in derivatives.

DCPB would not be under the authority of the Federal Reserve or the FDIC.

Who would manage the DC Bank?

An independent Board of Directors would oversee the bank.

Professional bankers in good standing would run the bank.

…Not DC politicians!

Will DC Residents Have Input?

Yes! DC residents would establish lending priorities for the public bank through neighborhood meetings to identify local needs.

Further collaborative public processes will need to be developed.

How would the DC public bank be created?

Either by an act of the City Council

Or by a city referendum/initiative implemented by the City Council

You’ve convinced me!

How can I get involved in supporting a DC Public Bank?

You can introduce your friends and neighbors to public banking

Tell them about us Refer them to dcpublicbanking.org Invite them to one of our events Invite them to have coffee in your home

and meet someone on the Steering Committee

Invite us to speak at a group meeting like your church or citizens/civic association

How else can I get involved in supporting a DC Public Bank?

Sign our petition calling for a DC public bank at

dcpublicbanking.org

Learn more at

dcpublicbanking.org

Ruth Caplan, Co-chairSteve Seuser, Co-chairMary BoltonDavid EasleyRaghu RaghavanDavid SchwartzmanParis Von Lockette

DC Public Banking Center

Steering Committee

DC PBC Advisory Board

Gar Alperovitz, historian, political economist, author America Beyond Capitalism; founding principal of University of Maryland-based Democracy Collaborative  Brent Blackwelder, President Emeritus, Friends of the Earth; Board Member Potomac Riverkeeper, Foundation Earth, and Tax Justice Network USA John Cavanagh, Executive Director, Institute for Policy Studies; Co-chair, New Economy Working Group Chuck Collins, Co-founder Wealth for the Common Good, New Economy Working Group John Gloster, Senior Associate General Counsel, Howard University; Co-founder/President Ward 8 Farmers Market Cooperative Rodney Green, Chair Economics Dept. Howard University; Executive Director, Center for Urban Progress Arturo Griffiths, DC Jobs with Justice

Graylan Scott Hagler, Rev. senior minister, Plymouth Congregational United Church of Christ

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Emily Kawano, economist; Director, Center for Popular Economics; Director, U.S. Solidarity Economy Network Linda Leaks, Alliance for Justice Advocacy, DC Clark Madigan, entrepreneur; former head of regional bank, Manufacturers Hanover of Central NY Larry Martin, Sustainable Community Initiatives Stacy Mitchell, Director, Initiatives on Independent Business and Community Banking for the Institute for Local Self Reliance Roger Newell, Chair, DC Jobs with Justice Chris Weiss, Executive Director, DC Environmental Network; former staff to Council Member Phil Mendelson Daphne Wysham, Coordinator, Genuine Progress Indicators Project, Institute for Policy Studies

DC PBC Advisory Board (cont’d)