Economics

Is Oakland Ready for a Publically Owned Bank?

Published

9 years ago

January 18, 2017

Councilmember Rebecca Kaplan is organizing a forum to discuss the benefits of creating a publicly owned bank in Oakland, Thursday, Feb. 9, 6 p.m. – 8 p.m. in Hearing Room 3 at Oakland City Hall.Presenters at the forum will be Marc Armstrong, co-founder and past President of the Public Banking Institute, and co-founder and president of Commonomics USA;

Tom Sgouros, author of “Checking the Banks: The Nuts and Bolts of Banking for People Who Want to Fix It,” and senior policy advisor to the Rhode Island Treasurer;

Nichoe Lichen, member of Santa Fe’s, Brass Tacks Team “public banking facts that stick,” and board member of the Public Banking Institute; and

Henry Wykowski, past prosecutor for the U.S. Attorney’s Office  in Northern California, currently Harborside Health Center’s lead attorney, speaking on cannabis law as it relates to public banking.

The Oakland City Council in December unanimously approved a feasibility study to establish a public bank that would operate in the public interest, giving low-interest loans to small and medium-sized businesses and help fund affordable housing.

The council decision directs city staff to seek input from community stakeholders about the feasibility study, including suggestions of potential contractors and funding sources; and makes it clear that the study should cover the legality and feasibility of providing banking to the cannabis industry.

The City Administrator’s report is due March 1.

A public bank, where the City of Oakland, other cities, agencies and businesses could place their money, would an alternative turning over millions of dollars to one of the gigantic Wall Street banks, many of which have been found guilty of criminal and unethical practices.

According to Susan Harman of Friends of the Public Bank of Oakland, she and others are basing their proposal on the public bank in North Dakota, which has been operating for 100 years.

“That bank has been successful, and we are trying to follow that pattern,” she said.

The Oakland bank, in which other cities could participate, would be a wholesale bank. That is, it would not have ATMs, tellers or make loans to individuals but would partner with community banks and back them up so they could provide more services to individuals, she said.

“Partnering with community banks is another way to keep money local and not send it off to Wall Street,” Harman said.

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Oakland Post: Week of July 1 – 7, 2026

The printed Weekly Edition of the Oakland Post: Week of July 1 – 7, 2026

Published

1 day ago

July 5, 2026

Oakland Post

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NPRC Joins National Grand Jury Proceedings Seeking Accountability, Constitutional Restoration

Organizers state that testimony will explore historical and political developments that they believe have contributed to the expansion of corporate influence over public institutions and governmental decision-making. Participants are expected to discuss concerns regarding constitutional governance, individual liberties, property rights, and the protection of vulnerable populations, including seniors and persons with disabilities.

Published

1 week ago

June 26, 2026

Oakland Post

Photo by Billie Powers.

Special to The Post

The National Probate Reform Coalition (NPRC) has joined Toll and Roll and a growing coalition of advocacy organizations, victims, whistleblowers, and citizen groups in support of a nationally broadcast People’s Grand Jury proceeding scheduled for July 1 and July 7.

Organizers describe the event as a public forum designed to examine allegations of government abuse, judicial misconduct, legislative failures, and the erosion of constitutional protections affecting millions of Americans.

The proceedings will feature testimony from victims, families, advocates, and organizations from across the country who contend they have experienced harm through government actions, institutional neglect, and failures of oversight.

According to organizers, the People’s Grand Jury will focus on concerns involving probate courts, guardianships, conservatorships, child welfare systems, property rights, civil liberties, and what participants view as a growing disconnect between government institutions and the constitutional rights of the people they are sworn to serve.

NPRC is participating because many of the issues being examined mirror the concerns raised by advocates, victims, and families who have participated in its monthly town halls. For years, families have reported cases involving exploitation of elders, questionable guardianships, estate depletion, denial of due process, and a lack of meaningful oversight within probate court systems.

“This proceeding gives victims and advocates an opportunity to place their experiences on the public record,” said Tanya Dennis, lead facilitator of NPRC. “For too long, families have struggled to have their voices heard regarding elder abuse, probate exploitation, and government inaction. This forum allows those stories to be shared before a national audience.”

In keeping with principles of transparency and fairness, invitations have been extended to legislators, members of the judiciary, law enforcement representatives, and other public officials who may wish to respond to concerns raised during the proceedings or defend actions taken by their respective institutions.

One of the primary outcomes sought by organizers is public consideration and support for the People’s Remedy and Restoration Act, a proposed legislative framework that advocates believe would strengthen oversight, increase accountability, provide remedies for victims of governmental abuse, and restore constitutional protections.

The proceedings are expected to be broadcast nationally, providing citizens throughout the United States an opportunity to observe testimony, review evidence presented, and participate in an ongoing conversation regarding government accountability and the protection of individual rights.

Advocates hope the hearings will encourage meaningful dialogue, legislative reform, and renewed public engagement in the democratic process.

Individuals, organizations, public officials, and members of the media interested in attending or obtaining access information may contact the organizers at tollandroll2025@gmail.com.

As Americans continue to debate the future of constitutional governance, judicial accountability, and the protection of vulnerable citizens, the July proceedings are expected to serve as a significant forum for public testimony and civic engagement. For more information, go to https://tollandroll.com