SF is working on its business plan for a public bank

The proposal to create a public bank for San Francisco, in order to provide an alternative to big banks for the city's investing and lending needs, is moving incrementally from concept toward reality. A working group of experts in different relevant fields, from finance to affordable housing, has now been selected to start work on a business plan for a public bank. Fernando Martí, co-director of the Council of Community Housing Organizations, and Sylvia Chi, principal co-author of AB 857, California's Public Banking Act and a member of the California Public Banking Alliance, talk about how this would work and what happens next.