“Some say the need for a municipal bank is even greater as the Trump administration plots cuts to housing, green energy and other programs.”

A 2023 rally calling for the city to establish a public bank. (John McCarten/NYC Council Media Unit)

Earlier this month, an obscure government entity, the NYC Banking Commission, voted on which banks city agencies can use over the next two years to deposit tax and other revenue and pay municipal bills. This may seem like little more than a bureaucratic exercise. But with hundreds of millions of dollars sitting in many of these accounts, the choices are far more meaningful than they might seem at first blush. 

That’s why some legislators and advocacy groups are pushing for the city to create its own bank—a public bank—that would use these funds to prioritize investments in city needs rather than helping to sweeten the bottom lines of some of the biggest commercial banks in the world. 

Some say the need for a municipal bank is even greater as the Trump administration plots cuts to housing, green energy and other programs. Moreover, the administration’s unprecedented order to seize from a city bank account $80 million in aid that had been authorized by Congress—and Citibank’s apparent willingness to go along to avoid regulatory retaliation from the White House if it defied the order—should send a clear message of just who’s interest comes first for many of the big banks.

On April 30, the city’s bank accounts held nearly $2.2 billion in deposits, according to information provided by the Department of Finance. Roughly three-quarters of those funds were in just three banks: JP Morgan Chase ($797.9 million), Bank of America ($684.6 million) and Citibank ($197.4 million). These funds don’t just sit idly in accounts waiting to be drawn down; the banks use them to make investments. The trio of banks were the largest bank investors worldwide in the fossil fuel industry over the years 2016-2023, based on data compiled by the organization Banking on Climate Chaos.

As the city labors to meet the challenges of climate change such as extreme heat, flooding, and related issues, it makes little sense for our public dollars to be used to fuel one of the primary sources of these environmental dangers. Funds in a public bank could instead be directed to help ease these problems locally by financing community solar projects, rooftop farms and building renovations that reduce greenhouse gas emissions.

Likewise, many of the Wall Street banks where the city deposits its funds also are major investors in luxury housing projects that spur gentrification and deepen the city’s shortfall of affordable housing. A public bank, with a mission to use its funds to promote the public good rather than maximize shareholder profits, could provide low-interest loans to nonprofit housing developers and community land trusts that aim to produce truly affordable housing. 

Such investments are taking on added import as the Trump administration angles to cut funding for programs that seek to ameliorate climate change and reduce aid that supports affordable housing as well as undermine assistance for underserved communities. As Tousif Ahsan of the New Economy Project said at a May 6 rally, “Through public banks, local governments can responsibly steward public funds—partnering with community-based financial institutions to close critical funding gaps and build wealth in low-income and Black and brown neighborhoods.”

Creating a New York City public bank is also a tool for local economic development—as it has proven to be for more than 100 years in North Dakota. A June 2023 study by the New School Center for New York City Affairs found that just in its early stages, a public bank could spur the creation of 70,600 jobs, more than 17,000 new or renovated housing units and $5.8 billion in lending through local credit unions and neighborhood banks.

“it would represent an alternate model of finance in New York City, one in which finance is not a means of extraction but instead a tool to employ public wealth for public good, enhancing the economic well-being and wealth generating potential for low- and moderate-income New Yorkers and communities,” the report states.   

But the city can’t simply put up a sign and open a bank for business. It needs enabling legislation from the state. State Senator James Sanders Jr., chair of the Senate banking committee, has sponsored the necessary legislation for several years. “I’m proud to lead the charge for the New York Public Banking Act, and I urge my colleagues and the governor to make this the year we give our communities the power to build for themselves,” he said at the May rally.

As the current legislative session in Albany winds down, we’ll soon know if his colleagues heed the call.

Doug Turetsky, a former City Limits reporter and editor, was most recently chief of staff and communications director at the New York City Independent Budget Office.

The post Opinion: A Public Bank for the Public Good appeared first on City Limits.

By JULIA FRANKEL and NATALIE MELZER

JERUSALEM (AP) — Israel said Thursday it would establish 22 more Jewish settlements in the occupied West Bank, including the legalization of outposts already built without government authorization. In the Gaza Strip, Israeli strikes killed at least 34 people, local health officials said.

Israel captured the West Bank, along with Gaza and east Jerusalem, in the 1967 Mideast war and the Palestinians want all three territories for their future state. Most of the international community views settlements as illegal and an obstacle to resolving the decades-old conflict.

Defense Minister Israel Katz said the settlement decision “strengthens our hold on Judea and Samaria,” using the biblical term for the West Bank. He said it “anchors our historical right in the Land of Israel, and constitutes a crushing response to Palestinian terrorism.”

He added that the construction of settlements was also “a strategic move that prevents the establishment of a Palestinian state that would endanger Israel.”

This is a locator map of Israel and the Palestinian Territories. (AP Photo)

Watchdog group says it’s the biggest expansion since Oslo

The Israeli anti-settlement watchdog Peace Now said the announcement was the most extensive move of its kind since the 1993 Oslo accords that launched the now-defunct peace process. It said the settlements, which are deep inside the territory, would “dramatically reshape the West Bank and entrench the occupation even further.”

Israel has already built well over 100 settlements across the territory that are home to some 500,000 settlers. The settlements range from small hilltop outposts to fully developed communities with apartment blocks, shopping malls, factories and parks.

The West Bank is home to 3 million Palestinians, who live under Israeli military rule with the Palestinian Authority administering population centers. The settlers have Israeli citizenship.

Peace Now said the plans call for the authorization of 12 existing outposts, the development of nine new settlements and reclassifying a neighborhood of an existing settlement as a separate one.

“The government is making clear — again and without restraint — that it prefers deepening the occupation and advancing de facto annexation over pursuing peace,” the group said.

Settlements expand with little or no U.S. pushback

Israel has accelerated settlement construction in recent years — long before Hamas’ Oct. 7, 2023, attack ignited the war in Gaza — confining Palestinians to smaller and smaller areas of the West Bank and making the prospect of establishing a viable, independent state even more remote. Hamas has been designated as a terrorist organization by the United States, Canada and the European Union.

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During his first term, President Donald Trump’s administration broke with decades of U.S. foreign policy by supporting Israel’s claims to territory seized by force and taking steps to legitimize the settlements. Former President Joe Biden, like most of his predecessors, opposed the settlements but applied little pressure to Israel to curb their growth.

The top United Nations court ruled last year that Israel’s presence in the occupied Palestinian territories is unlawful and called on it to end, and for settlement construction to stop immediately.

Israel denounced the non-binding opinion by a 15-judge panel of the International Court of Justice, saying the territories are part of the historic homeland of the Jewish people.

Calls for settlements in war-ravaged Gaza

Israel withdrew its settlements from the Gaza Strip in 2005, but leading figures in the current government have called for them to be re-established and for much of the Palestinian population of the territory to be resettled elsewhere through what they describe as voluntary emigration.

Palestinians view such plans as a blueprint for their forcible expulsion from their homeland, and experts say the plans would likely violate international law.

Israel now controls more than 70% of Gaza, according to Yaakov Garb, a professor of environmental studies at Ben Gurion University, who has examined Israeli-Palestinian land use patterns for decades.

The area includes buffer zones along the border with Israel as well as the southern city of Rafah, which is now mostly uninhabited, and other large areas that Israel has ordered to be evacuated.

Strikes kill at least 34 in Gaza

An Israeli airstrike hit a house sheltering several families in Bureij, an urban refugee camp in central Gaza, killing 22 people, including nine women and children, according to officials at nearby Al-Aqsa Martyrs Hospital. An AP journalist viewed the hospital records of the dead.

Strikes in northern Gaza late Wednesday and early Thursday hit a house, killing eight people, including two women and three children, and a car in Gaza City, killing four, local hospitals said.

There was no immediate comment from the Israeli military, which says it only targets combatants and blames civilian deaths on Hamas because the fighters operate in populated areas.

Israel’s campaign in Gaza aimed at destroying Hamas has killed over 54,000 Palestinians, mostly women and children, according to Gaza’s Health Ministry, whose count does not distinguish between civilians and combatants.

The campaign was triggered by Hamas’ Oct. 7 attack, in which terrorists stormed into Israel, killing some 1,200 people, mostly civilians, and abducting 251. Hamas still holds 58 hostages, around a third of them alive, after most of the rest were released in ceasefire agreements. Israeli forces have rescued eight and recovered dozens of bodies.

Melzer reported from Nahariya, Israel. Associated Press writers Kareem Chehayeb in Beirut and Sam Mednick in Tel Aviv, Israel, contributed to this report.

By AMY TAXIN

SOMIS, Calif. (AP) — Andreas Tompros lost his home and at least a third of his avocado orchard to a wildfire last year, but the 47-year-old grower is not worried about his farm making a comeback.

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While California farmers often rattle off a list of challenges they face including high labor costs, water restrictions and overseas competition, many avocado growers say they have a good thing going. A key reason may come as a surprise to some — Mexican imports.

When the United States lifted its ban on Mexican avocados in 1997, California growers worried at first that the imported fruit would displace their production.

But the steady flow of avocados has wound up helping, not hurting, their sales by allowing for a year-round supply to markets and restaurants that has fomented demand, farmers say. Before the influx, most American consumers considered avocados to be specialty items — and when they came into season in California, industry officials had to work to rev up widespread interest in order to sell them.

But not anymore.

Avocado consumption has been booming in the United States over the past two decades. The amount of fruit available per person tripled to more than 8 pounds between 2000 and 2021, federal statistics show. Avocado toast and guacamole are regular offerings not just in culinary hubs like NYC but at cafes around the Midwest and the South.

Avocados are in demand

On a steep, sun-soaked hillside northwest of Los Angeles, Tompros is replanting nearly 300 avocado trees with the belief that Americans’ hunger for the fruit — and his orchard — will continue to grow.

“It will come back, and I believe it will become better than it was,” Tompros, who previously ran a software company in Hollywood, said of the orchard he took over five years ago in the tiny community of Somis.

Andreas Tompros holds ripe avocados grown at his avocado farm, Ridgecrest Avocados, in Somis, Calif., on Thursday, May 15, 2025. (AP Photo/Damian Dovarganes)

Avocado demand has also been buoyed by consumers’ growing interest in healthy fats, said Emiliano Escobedo, executive director of the Hass Avocado Board.

A 2000 U.S. law created the board that collected 2.5 cents for every pound of avocados imported or produced in the United States. The board used the money to market avocados and conduct nutritional research, an effort that has been widely credited with making the fruit ubiquitous in supermarkets and on restaurant menus.

“It’s been really wildly successful. It generates way more money than most of these other industry boards do,” said Richard Sexton, distinguished professor of agricultural and resource economics at the University of California, Davis. “When you look at the growth rate in avocado consumption relative to all fruits, the difference in growth rate is dramatic.”

A successful crop

Escobedo said about 60% of U.S. households currently buy avocados, and about half of these are responsible for the overwhelming majority of consumption, which means there’s still room for the market to grow — especially in the Northeast, where the fruit is less common.

“There is a lot of opportunity for certain groups of people to increase their purchasing of avocados,” Escobedo said.

While the Trump administration has threatened tariffs on a spate of Mexican goods, avocados have so far been spared. California growers said they want Mexican avocados to keep flowing into the country, though they also want robust U.S. inspections of the imports to keep out pests to protect their crop.

“If you are going to farm in California, avocados are about the best deal right now,” said Ken Melban, president of the California Avocado Commission.

California farmers grow about 10% of the avocados eaten in the United States, Melban said, and account for nearly all of the country’s domestic avocado production. The fruit is largely grown in California from April through September, and Mexican imports arrive year-round to meet nationwide demand, which exceeds what the state’s farmers grow, he said.

Andreas Tompros tours Ridgecrest Avocados in Somis, Calif., on Thursday, May 15, 2025. (AP Photo/Damian Dovarganes)

In Southern California’s Ventura County, many growers have shifted to avocados since lemon prices were walloped by cheaper imports from Argentina. As recently planted trees start bearing fruit in a few years, the region’s avocado production is likely to rise, said Korinne Bell, agricultural commissioner for the county northwest of Los Angeles.

A booming market, despite wildfires

Avocado trees do not come without risks in a region prone to wildfires.

Still, demand for the trees has jumped due to interest from lemon growers — and since the November 2024 fire charred Ventura County avocado orchards, said Rob Brokaw, whose family-owned nursery has supplied avocado trees to California growers for 70 years.

“Right now we are sold out essentially for this year,” Brokaw said. “And we’re mostly sold out for 2026.”

Tompros debated whether to plant the more fire-resistant lemon trees or another crop after the fire ripped through Somis, but he decided to replant due to the soaring demand for Super Bowl guacamole and avocado toast.

Avocados grow at Ridgecrest Avocados in Somis, Calif., on Thursday, May 15, 2025. (AP Photo/Damian Dovarganes)

“It’s the super food, and it’s still growing in popularity,” Tompros said.

He’s taking precautions to not plant the trees too close to what will eventually be his rebuilt home, because the dried-out leaves that help nourish the orchard’s soil can also fuel blazes.

It may take a few years, but Tompros hopes it won’t be too long before his newly planted trees bear fruit that he can sell to a local packinghouse or in seasonal gift boxes with citrus and passionfruit that he ships directly to customers.

By ED WILLIAMS of Searchlight New Mexico and SUSAN MONTOYA BRYAN of The Associated Press

COUNSELOR, N.M. (AP) — On a Tuesday in March, Billton Werito drove his son Amari toward his house in Counselor, New Mexico, driving past natural gas pipelines, wellheads and water tanks. Amari should have been in school, but a bout of nausea and a dull headache kept him from class.

“It happens a lot,” Amari explained from the backseat. The symptoms usually show up when the sixth grader smells an odor of “rotten egg with propane” that rises from nearby gas wells and wafts over Lybrook Elementary School, where he and some 70 other Navajo students attend class. His little brother often misses school for the same reason.

“They just keep getting sick,” Amari’s father, Billton, said. “Especially the younger one, he’s been throwing up and won’t eat.” The symptoms are putting the kids at risk of falling further behind in school.

Lybrook sits in the heart of New Mexico’s San Juan Basin, a major oil and gas deposit that, along with the Permian Basin in the state’s southeast, is supplying natural gas that meets much of the nation’s electricity demand.

The New Mexican gas has reaped huge benefits. Natural gas has become a go-to fuel for power plants, sometimes replacing dirtier coal-fired plants and improving air quality. Oil and gas companies employ thousands of workers, often in areas with few other opportunities, and their revenue boosts the state’s budget.

But those benefits may come at a cost for thousands of students in New Mexico whose schools sit near pipelines, wellheads and flare stacks. An Associated Press analysis found 694 oil and gas wells with new or active permits within a mile of a school in the state. This means around 29,500 students in 74 schools and preschools potentially face exposure to noxious emissions that can be released during extraction.

At Lybrook, Amari’s school, fewer than 6% of students are proficient at math, and only a fifth meet state standards for science and reading proficiency.

Other factors could help explain poor achievement. AP’s analysis found two-thirds of the schools within a mile of an oil or gas well are low-income.

But research has found student learning is directly harmed by air pollution from fossil fuels — even when socioeconomic factors are taken into account.

The risks go far beyond New Mexico. An AP analysis of data from the Global Oil and Gas Extraction Tracker found over 1,000 public schools across 13 states within five miles of a major oil or gas field.

“This kind of air pollution has a real, measurable effect on students,” said Mike Gilraine, an economics professor at Simon Fraser University in Vancouver, Canada. Gilraine’s research has shown student test scores are closely associated with air contamination.

America’s shift to natural gas has resulted in substantial increases in student achievement nationwide, Gilraine’s research shows, as it has displaced dirtier coal and led to cleaner air on the whole. But there has been little data on air quality across New Mexico, even as it has become one of the most productive states in the nation for natural gas. State regulators have installed only 20 permanent air monitors, most in areas without oil or gas production.

Independent researchers have extensively studied the air quality near schools in at least two locations in the state, however. One is Lybrook, which sits within a mile of 17 active oil and gas wells.

In 2024, a study at the school found levels of pollutants — including benzene, a cancer-causing byproduct of natural gas production that is particularly harmful to children — were spiking during school hours, to nearly double the levels known to cause chronic or acute health effects.

That research followed a 2021 health impact assessment that found more than 90% of area residents surveyed suffered from sinus problems. Nosebleeds, shortness of breath and nausea were widespread. The report attributed the symptoms to the high levels of pollutants — including, near Lybrook, hydrogen sulfide, a compound that gives off the sulfur smell that Amari associates with his headaches.

Those studies helped confirm what many community members already knew, said Daniel Tso, a community leader who helped oversee the 2021 health impact assessment.

“The children and the grandchildren need a safe homeland,” Tso said in March, standing outside a cluster of gas wells within a mile of Lybrook Elementary.

“You smell that?” he said, nodding towards a nearby wellhead, which smelled like propane. “I’ve had people visiting this area from New York. They spend five minutes here and say, ‘Hey, I got a headache.’ And the kids are what, six hours a day at the school breathing this?”

Lybrook school officials did not respond to requests for comment.

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Researchers have identified similar air quality problems in New Mexico’s southeast. In 2023, a yearlong study of the air in Loving found air quality was worse than in downtown Los Angeles, containing the fifth-highest level of measured ozone contamination in the U.S.

The source of the ozone — a pollutant that’s especially hazardous to children — was the area’s network of gas wells. Some of that infrastructure sits within a half-mile of Loving’s schools.

For most locals, any concerns about pollution are outweighed by the industry’s economic benefits. Representatives of the oil and gas industry have claimed the air quality studies themselves are not trustworthy. Andrea Felix, vice president of the New Mexico Oil and Gas Association (NMOGA), said other sources of emissions, such as cars and trucks, are likely a larger source of air quality problems near wells.

Officials with Loving schools are also skeptical. Superintendent Lee White said funds from the oil and gas industry paid for a new wing at the elementary school, a science lab for students, turf on the sports field and training for teachers. In the most recent fiscal year, oil and gas revenue supported $1.7 billion in K-12 spending in New Mexico, according to a NMOGA report.

“Are we willing to give that up because people say our air is not clean?” White asked. “It’s just as clean as anywhere else.”

Efforts to limit drilling near schools were boosted in 2023, when State Land Commissioner Stephanie Garcia Richard issued an executive order prohibiting new oil and gas leases on state-owned land within a mile of schools.

AP journalist Sharon Lurye contributed.

The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.