Dear Friend of Public Banking,

Public Banking Institute
News, Views, and Upcoming Events
June 1, 2026 Edition


In this Issue:

We Could End Every State’s Budget Deficit With One Policy

The Seattle Loop: Reclaiming the Public Interest

Government Instituted Public Banks: A Study on Counter-Cyclical Lending

Wisconsin Needs Public Banking


We Could End Every State’s Budget Deficit With One Policy

The United States now holds more public debt than the entire economy produces in a year. As of March 2026, the federal debt held by the public crossed 100 percent of GDP for the first time outside of a brief moment during World War Two and the COVID pandemic, with total federal debt hitting 39 trillion dollars, or roughly 114,000 dollars for every American. The federal government is borrowing $1.33 for every dollar it collects in revenue, and the projected trajectory is worse. We are not waiting for the next election to fix this. We cannot wait. With federal government that loots the treasury and hands the keys to corporate donors, the only honest path forward is for cities and states to build their own fiscal capacity. Public banking is how they do it. We could end every State's Budget Deficit

The Seattle Loop: Reclaiming the Public Interest

BND vs Big Banks

The crux of the problem is that every year millions of Seattle’s tax dollars line the coffers of capitalists outside the city. When the city borrows money for bridges, schools, or transit, it pays massive interest fees to private banks on Wall Street. This “leak” is a primary cause of local austerity—the feeling that the city is always broke, even when there’s plenty of good ideas and idle resources to go around.
The time has come to plug that leak. By creating a city-owned public bank, Seattle can not only provide residents with low-cost financial services; it can also buy its own debt and pay interest to the city instead of private creditors. This simple shift transforms debt into a self-replenishing fund, giving us the financial hardware to build what our communities actually need—from social housing and municipal grocery stores to green jobs and a thriving arts scene. Manitach lists a public bank as one potential fix among many. But a municipal bank is not just one sticky note in the pile; it is the very foundation upon which every other progressive initiative depends. Read more here: The Seattle Loop - Reclaiming the Public Interest

Government Instituted Public Banks:
Protection Against Economic Downturns

All Wars are Bankers' Wars

Public banks are an economic and policy tool used by governments around the world for over five centuries that have re-popularized since the 2008 financial crisis for their capacity to lend to developing sectors (e.g. clean energy), support underinvested communities, and provide counter-cyclical financing. Existing research and contemporary policy discourse debates the economic functions of public banks, yet no systematic studies examine what leads governments to form them in the first place, in part due to a lack of data. This paper introduces an original dataset, conceptual framework, and descriptive empirical insights to serve as the basis for future research. Read more here.


Wisconsin Needs Public Banking

“Like so many Madisonians, I find a lot of joy in walking down Willy Street and popping into small businesses. ... But over the years, it’s become harder for small businesses to start up and make it — and grow,” explained the candidate, Former Madison Alder Juliana Bennett. “That’s why we need a public bank. A public bank would allow small businesses to access the same low-interest loans that mega-corporations can access at all times. And it’s not radical. North Dakota, a red state, has a century-old model of a public bank that we will take into Wisconsin. Let’s get it done.” Read more here: How Public Banks Can Meet Wisconsin's Needs.

UPCOMING PUBLIC BANK EVENTS
Save the Dates, October 21-24,
A National Event Catalysing the Public Banking Movement.
Philadelphia, PA - Online and Onsite:
“Public Banks, Public Prosperity:
A Declaration of Financial Independence”
Stay tuned for Registration and Event Details.
This national gathering marks a new beginning to the campaign of civic action to establish city, county, and state public banks for the restoration of local financial sovereignty.

National Infrastructure Bank Coalition

How we can raise $5 Trillion for Infrastructure without raising taxes!
Please register for the next meeting, click the button below.

https://www.nibcoalition.com

PARTNER WITH THE PUBLIC BANKING MOVEMENT

Banks provide a critical public service by creating credit, the lifeblood of local economies. As an essential public utility, they should be owned and operated by the people.
The Public Banking Institute, a non-profit 501(c)3 organization, is driving the national movement to establish new public banks and to reclaim the local power and promise of our money.
Your contribution to PBI helps accomplish this transformative vision of national, state, county and local public banks by your investing a donation of any amount.
Thank you very much!


Interactive Infographic

At-A-Glance: How Public Banks Excel Infographic

PBI's Infographic At-A-Glance: How Public Banks Excel, makes it easy to explain and compare the strong suite of capabilities that public banks possess, demonstrating why public banks are unmatched for improving local economies.

Available to download for handouts or presentations. Please contact communications@publicbankinginstitute.org to request help in adding your group's logo or arranging printing. [See Infographic]


PBI Video - What is a Public Bank

PBI Video: Public Banking Made Easy

Our short animated video has helped thousands of people understand the basic concepts of public banking. Please help us make public banking common knowledge by sharing it with your friends and groups.
Thank you for all your help!

COALITION MEETINGS

Come join the national conversation!

Zoom | June 12th, 12:00pm EST / 9:00am PST
                   PBI Coalition Meetings
                  Have questions, concerns, or ideas about Public Banking?
                  Come join an open national discussion and share your thoughts!
                  Each month, PBI hosts an 90 minute discussion of current events, public banking issues, and updates on the advances being made for public banks all across the country.
                     Meetings Take Place at 12:00 pm EST/ 9:00 am PST
                  on the Second Friday of Each Month

SOCIAL MEDIA


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