SF Ballot Measure Could Help Establish the First City-Run Public Bank in the US
The SF Board of Supervisors voted to add a measure to the November ballot that would help the city work toward establishing its own public bank, which would fund affordable housing, green energy, and small businesses — the first of its kind in the nation.
The measure passed the Board of Supervisors on a 9-2 vote Tuesday, with Supervisors Stephen Sherrill and Alan Wong dissenting, as KQED reports.
“A public bank would open the doors to build an engine for affordable housing,” said Supervisor Chyanne Chen, per KALW, “a lifeline for struggling small businesses, and the financial backbone for our climate goals.”
Five supervisors co-sponsored the measure creating the municipal finance corporation, including Supervisors Jackie Fielder, Myrna Melgar, Bilal Mahmood, Shamann Walton, and Chyanne Chen, who recently introduced the legislation to the board while Fielder, who spearheaded a previous public bank proposal, was on medical leave. Mayor Daniel Lurie has reportedly not indicated whether he supports the proposal.
https://sfist.com/2026/07/08/sf-ballot-measure-could-help-establish-the-first-city-run-public-bank-in-the-us/