Philly will consider establishing a public bank in an effort to boost Black-owned businesses

Article in the Philadelphia Inquirer by Laura McCrystal and Sean Collins Walsh on January 28, 2019

Philadelphia City Council will consider establishing a public bank, a move that lawmakers and advocates say would fight systemic racism and boost the local economy by serving business owners of color.

Councilmember Derek Green introduced legislation Thursday to establish a public bank as a city authority that would have the power to provide loans, issue tax-exempt bonds, finance city construction projects, and perform other banking functions.

Read the full article in the Inquirer online.