Please explain what these public banks would do? I get the heartburn over the banking sector serving the rich but it isnt clear what a parallel “for the people” system is. Are you suggesting building out a whole new system to administer SBA loans, student loans etc, and how is that a value add to the public?

That's what credit unions are for! I learned my lesson after Washington Mutual tried to refuse my closing my account when I left Seattle (because they were about to go bankrupt).

Just adding to the chorus that both credit unions and community development financial institutions fill this needed market segment (many with a mission of helping the unbanked in our communities).

Many countries have postal banking. The post office provides basic banking services at little or no cost. When I was a boy, I had a postal savings account with the US Post Office in my town. All that was shut down in 1967. We need to bring it back stronger than ever.