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New NJ Treasurer Supports Public Banking

New Jersey Governor-elect Phil Murphy, who made public banking part of his election platform, has just named Democratic Assemblywoman Eliabeth Maher Muoio to the post of State Treasurer.  Assemblywoman Muoio is a supporter of public banking and her appointment to this critical post in the Garden State promises to move the concept of public banking forward as a major financial reform.

Pennsylvania Public Banking Institute volunteers played a key role in bringing the concept of public banking to the attention of the governor-elect, who was a Wall Street banker before running for office.  It is significant to note that former bankers, including many of the original Occupy Wall Street demonstrators,  embrace public banking as a financial system reform.

In Philadelphia the Public Banking group has been working on getting the City to underwrite a study on how to establish such a bank here.


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