August 5, 2021
https://civic.simplecast.com/episodes/sf-is-working-on-its-business-plan-for-a-public-bank
“Part of the way that we finance affordable housing right now is through loans through traditional banks. And those loans are not necessarily made because traditional banks love to invest and lend to affordable housing, but because we have laws in place — the Community Reinvestment Act — that require banks to do that kind of lending. That said, those are the same banks that are investing in fossil fuels; are investing in, or have connections to, payday lending institutions, all sorts of kind of bad actors. And so the city’s investments, whether they’re in affordable housing or others, are now tied up with all of these things that at the same time, we’re passing resolutions and saying we as a city don’t support these things.”
— Fernando Martí