Yes on B: SF Public Bank

In July of 2026, the San Francisco Board of Supervisors, led by Supervisors Chyanne Chen and Socialist in Office Jackie Fielder, voted to place a measure on the November ballot which would establish the foundation for a San Francisco Public Bank. The SF Public Bank would support the city’s effort to expand affordable housing options, green infrastructure projects, and small business resources by offering low-cost loans to create more vibrant and accessible neighborhoods for all San Franciscans. The SF Public Bank offers a local alternative to traditional big banks and predatory lenders while ensuring that community investment funds stay within our communities. The SF Public Bank ballot measure has received the overwhelming endorsement of DSA SF.

Learn more at www.ourcityourbank.com.

Background

For over a decade, SF advocates have been taking the necessary steps to establish a Public Bank in the city. As a response to the devastating financial crisis of 2008, the ensuing lackluster response from policymakers, and the Occupy Wall Street movement, banking accountability advocates sought alternatives to the traditional banking system. In 2017, the SF Public Bank Coalition was formed by founder Jackie Fielder with an emphasis on establishing alternative financing opportunities for maximum local impact. One of the initial hurdles that city leaders and advocates faced was working with state lawmakers to enshrine cities’ authority to establish such an institution. In 2019, the City and County of San Francisco supported state legislation (authored by now City Attorney, and former Assemblymember, David Chiu) which established a pathway for local agencies to form public bank institutions while also setting oversight and transparency provisions.

Following this vote, the SF Board of Supervisors unanimously passed the Reinvest in San Francisco Ordinance in June 2021 to create a pathway for establishing a public bank in SF. Subsequently in July 2021, SF Board President Shamann Walton nominated the membership of the Reinvest Working Group (RWG), composed of financial professionals and community representatives who were then tasked with preparing an operating plan for a potential public bank. The RWG has since been dissolved, but not before completing a Final Governance Plan which was ultimately approved by the SF Board of Supervisors in July 2023.

Details

The Public Bank Ballot Measure would:

Establish the mission of the bank and:
- Promote financing of: affordable housing development, affordable homeownership, small business development, environmental sustainability, and environmental justice
- Prevent lending to: fossil fuels, weapons manufacturing, tobacco, prison or detention centers, and businesses with a record of labor violations
Establish a Municipal Financial Corporation, which is a precursor to creating a public bank
Establish a democratic appointment structure for the Oversight Committee
Establish the Oversight Committee’s relationship to the Board of Directors

Get Involved

Get involved with the campaign!

Donate

Head to our ActBlue to donate!

Events

Subscribe to our events calendar here!