CityLab Daily: Could Public Banks Help Fund Affordable Housing?

CityLab Daily: Could Public Banks Help Fund Affordable Housing?

What We’re FollowingBank shot: When cities collect tax revenue, they put it into commercial banks that then decide how to make that money grow. But what if cities could make those investments by themselves—in their own communities—and control the banks that manage their money? That’s the idea behind local public banks, and a bill in California proposes letting cities give it a try.