17 States Considering State Banks
February 29, 2012
Taking a cue from North Dakota, a large number of state governments are considering the establishment of a state bank.
In the wake of the financial and mortgage crises, proponents are pushing for states to rely less on large national private banks and establish state-run financial institutions.
North Dakota serves as the model for this new experiment that 17 states are looking at. However, the state bank in North Dakota, the only one of its kind in the U.S., is not new, having been in operation since 1919.