Bank of North Dakota Celebrates 100 Years of Public Banking

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…

Public Banking & the Nonpartisan League: Is It Time for a Financial Revolution?

  During this political season, we have heard a lot about too-big-to-fail banks, corporate greed, politicians on the take, bad trade deals, inequality and … starting a revolution to save the middle class. Just over 100 years ago, at the dawn of the first American Progressive Era, the same conditions sparked a revolution which spread…

What Wall Street Costs America (and Arizona)

The Public Banking Institute (PBI) has initiated an educational project entitled “What Wall Street Costs America.” PBI and advocates around the country are learning to read Comprehensive Annual Financial Reports (CAFRs). All governmental bodies must issue annual CAFRs– including the State of Arizona (here), the State Retirement System (here), Pima County (here), Tucson (here), and Tucson…

Rising Debt Service Costs: Public Banks for Tax Relief

Here is a great article by Mike Kraus, one of the founding members of the Public Banking Institute and Chair of Pennsylvania’s Public Banking Project. This was originally published in the Bucks County Courier Times. By Mike Krauss Across the United States, states and municipal governments struggle to provide essential public services, such as schools,…