Public banking offers the possibility of achieving multiple policy objectives, including stimulating economic development, spurring job creation, reducing municipal debt service, and expanding the tax base, through direct, long-term local lending at below-market rates. A public bank could partner with community banks to extend reliable affordable credit to small businesses and other community stakeholders, neither acting as a retail establishment in competition with a private bank, nor requiring brick-and-mortar locations, tellers, and or extensive marketing.
WHERE: Philadelphia City Council Chambers, Room 400
WHEN: February 22, 2016, 1:00 p.m.
Meisha Malone Carrington