Join Enlace on June 5th as we call on NYC to divest from Wall Street and invest in our communities, through a public bank!
Every year, New York City deposits billions of dollars of public money in big banks like Chase, Bank of America, and Citibank. On top of that, Wall Street extracts many millions of dollars in fees and interest from New York City. This means that our public money is supporting Wall Street’s destructive activities: foreclosing on our homes, fueling the climate crisis, redlining communities of color, backing private prisons and immigrant detention centers, and financing war — to name a few.
Enough! Clearly we need a paradigm shift, and we call that shift Public Bank NYC. A Public Bank is a step toward building Freedom Cities, in which we are divesting from punitive institutions that overwhelmingly extract resources from low-income communities and communities of color and shift the control of resources to those same communities. READ MORE