Oregon Sen. Jeff Golden (D-Ashland) has proposed legislation this session that would reintroduce a state bank concept for Oregon. Senate Bill 339 would establish the Bank of the State of Oregon and provide more significant support for community banks and credit unions. If created, the state bank would be guided by an advisory board of directors in its management and operation, and would be subject to a mandatory audit by the secretary of state. As of Monday, the bill had not progressed beyond Finance and Revenue Committee, where it was referred on Jan. 19.
As businesses and workers around San Francisco struggle to keep up with the continually ballooning costs of the Bay Area and maintain economic stability in the throes of a pandemic, members of the Board of Supervisors are pushing to establish a public bank.