Reinvestment Working Group
The San Francisco Reinvestment Working Group was created by ordinance #87021, and tasked with submitting to the Board of Supervisors and the Local Agency Formation Commission (LAFCo), a business and governance plan to establish a non-depository lending corporation wholly-owned by the City. Also within one year its first meeting, the Working Group must submit to the Board and LAFCo a separate business and governance plan for the MFC to become a state-licensed public bank. Among other requirements, this plan must include the business plan elements required for a State public bank license; a study required to apply for a State public bank license; and lending priorities. The plan must recommend a governance and regulatory structure for the Public Bank; modifications to City laws and regulations; and whether the City should partner with another local agency in the establishment and operation of a public bank.
Members and Staff |
Seat | Member Name | Seat Attributes |
1 | Rafael Morales | Technical expert in financial institutions |
2 | Jennifer Finger | Technical expert in financial institutions |
3 | Elizabeth Dwyer | Technical expert in financial institutions |
4 | Fernando Marti (Vice Chair) | Community representative |
5 | Christin Evans (Chair) | Community representative |
6 | Michelle Pierce | Community representative |
7 | Syvia Chi | Community representative |
8 | Anna Van Degna | Controller's designee |
9 | Amanda Fried | Treasurer's designee |
Staff |
Khalid Samarrae Policy Analyst khalid.samarrae@sfgov.org |
Bylaws |
- RWG Bylaws (Approved by RWG Members on August 18, 2022)
NOTICE OF CANCELATION |
Resources |
-
U.S. Congress
-
Public Banking Community
-
San Francisco Public Banking Reports
-
Suggested Reading for RWG Members
-
FDIC - Applications from Non-Bank and Non-Community Bank Applicants (distributed to RWG Members on June 24, 2022)
-
FDIC - A Handbook for Organizers of De Novo Institutions (distributed to RWG Members on June 24, 2022)
-
FDIC - Business Plan Guidelines (distributed to RWG Members on June 24, 2022)
-
San Francisco Budget Process Timeline (distributed to RWG Members on July 22, 2022)
-
African American Reparations Advisory Committee - San Francisco Reparations Plan (distributed to RWG Members on January 6, 2023)
-