April 29, 2023 A new memo by Earl Staelin, attorney and Chair of the Rocky Mountain Public Banking Institute, argues that FDIC membership and the holding of 100% collateral generally required for a bank charter are “completely unnecessary for public banks that follow the Bank of North Dakota (BND) model and would substantially undermine their profitability and…
Bank of North Dakota, the only public bank in the US, didn’t sit on its #COVID19 relief funds. Working with local community banks, it has distributed more funds per capita to workers through Paycheck Protection Plan (PPP) than in any other state. This is in sharp contrast to Arizona, which has distributed a fraction of…
The Bank of North Dakota (BND), the only public bank in the US, celebrated 100 years of economic liberty from Wall Street banks this week. BND was created in 1919 by the grassroots efforts of the Nonpartisan League. Back in the early 1900s in the Gilded Age, railroads and banks were controlled by wealthy east…
When Arizonans for a New Economy gives talks about public banking and the Bank of North Dakota, invariably someone in the audience claims that North Dakota is prosperous because of the oil boom. We politely point out that the oil boom started in 2010 and that the Bank of North Dakota was profitable for before…
The US Congress could consider allowing fast track authority for the Trans-Pacific Partnership (TPP) in the near future. Read this timely piece in Counter Punch by Ellen Brown, prolific author, public banking guru and founder of the Public Banking Institute. “The politicians are put there to give you the idea that you have freedom of…
As public banking advocates, we spend a lot of time evangelizing. We talk about public banking all the time. More often than not, people get it when they hear our message about bringing tax dollars back from Wall Street and investing our money HERE at home. One group that we have not made many inroads with…
We are much obliged to Mr. Robert G. Brown, a public banking advocate for scheduling a meeting for us with Pima County District 1 Supervisor Ally Miller. We met with her in her in her office today for about an hour. We presented “Top 10 Reasons for Public Banking” power point. She was especially interested to…
This is a lecture given by Jared Gardner of the Oregonians for a State Bank delivered as part of a seminar presented at the Portland State University’s Institute for Sustainable Solutions. This address was delivered on April 13, 2011. Mr. Gardner speaks extensively about how Wall St. Banks are not serving the interests of local…
There are many misperceptions about public banking. In this blog post is from the Public Banking Institute’s (PBI) website, PBI answers. When grouped together these misperceptions may be summarized as follows: 1) Public banking is riskier than the current system. In fact, the opposite is true. The only thing that saved the private banking system from…
Summary: Instead of theorizing about possible advantages we want to present a concrete example. It is from the almost 100 years of consistently successful performance of the public Bank of North Dakota. Briefly, from this we can conclude that a public bank can: Create new jobs and spur economic growth Generate new revenues for states…
Arizonans for a New Economy 