Prepared for testimony at Vermont Assembly by Marc Armstrong

In this important document, Public Banking Institute’s Marc Armstrong attests to recent developments at the Bank of North Dakota and the North Dakota State Legislature. Among these are documents of the Independent Banker’s Association and the North Dakota Banking Association in which these two groups seek help from the State Legislature to have the Bank of North Dakota originate mortgages if they are unavailable through their member banks. There is also a document in which the BND created a $50M fund to provide relief to flood beleaguered homeowners and businesses; and another showing the power of public banking by creating a series of loans amounting to $150M to create a water pipeline for western North Dakota.
Written Testimony VT Marc Armstong 022414

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