At the federal level, a new bill was introduced at the end of October by Reps. Rashida Tlaib and Alexandrai Ocasio-Cortez, proposing a public option for banking. The Public Banking Act would foster the creation of public banks across the country by providing them a pathway to getting started, establishing an infrastructure for liquidity and credit facilities for them via the Federal Reserve, and setting up federal guidelines for them to be regulated. This is an essential first step in making it easier for public banks to exist and would also give grant money for public banks to get started.

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