Jill Schramm • http://www.newsworks.org • May 3, 2012
North Dakota’s state-owned bank captured national attention a few years ago after a banking crisis and recession caused Americans to consider North Dakota’s contrasting prosperity. Although no state yet has followed North Dakota’s example and created a government-run bank, interest in the idea hasn’t waned.
Eric Hardmeyer, president of the Bank of North Dakota, and Rick Clayburgh, president of the North Dakota Bankers Association, both Bismarck, spoke last month via teleconference about the state bank at an event that drew a national and international audience.
The Public Banking Institute, an educational nonprofit organization, reports 17 states have introduced legislation to create publicly owned banks or derivations, or for studies or task forces to determine how a publicly owned bank would operate in their jurisdictions.
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