San Francisco, CA
How a public bank could work in San Francisco
![How a public bank could work in San Francisco](https://images.axios.com/kD2fZhJ_y8IPnqcPOW8yd3EYh8U=/0x0:1920x1080/1366x768/2023/02/23/1677193381757.jpg)
Illustration: Brendan Lynch/Axios
San Francisco is a step nearer to having the primary city-owned public financial institution within the nation, following the discharge of a plan outlining how one might function within the metropolis.
Why it issues: Whereas non-public banks want to maximise shareholder earnings, a public financial institution — arrange and operated by town — has a mission to serve the general public curiosity.
- A draft plan launched final week from town’s Reinvestment Working Group stated a public financial institution would search to higher serve the wants of low-income residents and communities of colour in San Francisco, who’ve traditionally confronted redlining and restricted entry to banking companies.
At present, only one public financial institution exists within the U.S., the Financial institution of North Dakota. The method in San Francisco is prone to take years on account of state and federal regulatory hurdles town wants to beat.
The way it works: If applied, town would deposit its cash into the general public financial institution, reinvesting any earnings earned again into the neighborhood. At present, town’s treasurer manages the banking relationships for San Francisco’s greater than 200 financial institution accounts.
- The general public financial institution would focus its preliminary lending on reasonably priced housing growth and homeownership, small companies and local weather change.
- Sooner or later, the financial institution might broaden its lending companies to different areas, together with scholar loans, in accordance with the plan.
- The proposal requires $50 million in preliminary funding, which might come from sources that embrace town’s common fund, native taxes and philanthropy, Jackie Fielder, co-founder of the San Francisco Public Financial institution Coalition, advised Axios.
What they’re saying: If residents care about assembly town’s reasonably priced housing targets, supporting small companies and assembly local weather targets, “then they need to care a couple of public financial institution,” Fielder stated. “It is not a silver bullet, however it’s a very essential a part of all these items.”
- A problem that exists, nevertheless, is getting residents to belief {that a} public financial institution could be “efficient, accountable, clear and higher, frankly, than a personal financial institution,” Thomas Marois, a political economist, advised the San Francisco Examiner.
The underside line: Whereas a full-fledged public financial institution might take three to 5 years to realize, it is “the most effective methods to make sure that our metropolis {dollars} are used to reverse inequities, not perpetuate them,” San Francisco Supervisor Dean Preston stated in a press assertion.
What’s subsequent: The plans for the general public financial institution are set to be finalized in Might after which submitted to the Board of Supervisors for evaluation.
- If accepted, the plans would then head to San Francisco Mayor London Breed.
- The group can be contemplating the creation of a inexperienced financial institution, which might ultimately lay the groundwork for a public financial institution.
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San Francisco, CA
San Francisco ready for clear skies, fireworks and big crowds
![San Francisco ready for clear skies, fireworks and big crowds](https://images.foxtv.com/c107833-mcdn.mp.lura.live/expiretime=2082787200/a219764d33d6ca8f9ed5c221154c9cf6502a436cfd95ff58e05df1f1a53c817c/iupl/976/E92/1280/720/976E92938F160B4B35C1AF7DA6EF86D9.jpg?ve=1&tl=1)
San Francisco, CA
15-month-old child falls from 3rd-story window in San Francisco, firefighters say
![15-month-old child falls from 3rd-story window in San Francisco, firefighters say](https://cdn.abcotvs.com/dip/images/15026401_070324-kgo-sf-baby-fall-img.jpg?w=1600)
SAN FRANCISCO (KGO) — A 15-month-old child has been taken to the hospital after falling from a third-story building window in San Francisco, firefighters said Wednesday.
Medics responded to the building on the 2300 block of Mission Street and transported the child to the hospital with life-threatening injuries
CPS (Child Protective Services) has been notified of the incident and will be conducting their own investigation.
The fire department did not provide any other details.
The incident is under investigation. Anyone with information is asked to call the SFPD Tip Line at 1-415-575-4444 or Text a Tip to TIP411 and begin the text message SFPD. You may remain anonymous
Stay with ABC7 News for the latest details on this developing story.
Copyright © 2024 KGO-TV. All Rights Reserved.
San Francisco, CA
Beat the heat: Free public pools in San Francisco
![Beat the heat: Free public pools in San Francisco](https://images.foxtv.com/static.ktvu.com/www.ktvu.com/content/uploads/2024/06/1280/720/Pool.jpg?ve=1&tl=1)
Doctor discusses how to stay safe in the heat
Kaiser Dr. John W. Morehouse discusses how to stay safe in the heat.
SAN FRANCISCO – With temperatures at nearly 20 degrees above summer averages in California, the city of San Francisco is making all its public pools free for the heat-weary on Wednesday.
The City – where temps were expected to reach the mid-80s compared to triple-digits inland – has nine public pools.
“It’s important that residents, especially seniors and families with young children, know that there are resources to help them keep cool during excessive heat,” Rec and Park General Manager Phil Ginsburg said. “If the heat is getting to you, don’t sweat it. Our pools will be free for anyone looking to chill out.”
San Francisco is closing its pools on Thursday and will reopen them on Friday.
Most pools are open for dipping from 9 a.m. to 5 p.m. or 7 p.m. People can find their pool and its specific hours here.
Typically, it costs $8 to swim at a city pool.
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