Bills Address Underserved Housing and Banking

Bills Address Underserved Housing and Banking

Sun Staff Reports

East Bay Housing Organizations (EBHO) is celebrating the passage of a priority bill, AB 1304: Affirmatively Furthering Fair Housing in Housing Element Inventory of Land. AB 1304 requires each city and county to analyze patterns of segregation and develops policies and actions to affirmatively further fair housing both in its housing funding and zoning activities.

EBHO believes that every person should have a safe, quality, affordable home in a thriving community. The newly passed bill helps create accountability required to rectify racial and economic inequity in land use.

The consortium also praises the passage of AB 1177, The California Public Banking Option Act, which provides a stable, accessible banking option for underserved communities by creating a public retail banking option for every California worker.

Nearly half of Black and Latino households are unbanked or underbanked, lacking access to basic financial services, like checking and savings accounts, that are critical to financial stability. The passage of the bill helps close the financial services gap, bolsters the economy, and supports an equitable economic recovery.