Source: AdobeStock
New York State's legislative session came to an end on Saturday. Fortunately, another year went by without the passage of legislation, supported by the Chairs of the Assembly and Senate Banks Committees, to create a so-called public bank.
The idea has been around for a while, and despite its very obvious flaws and few legislative successes, it refuses to go away. Ten states and municipalities currently have proposals, and the idea has adherents in the progressive wing of the Democratic Party, which has grown increasingly frustrated with the perceived lack of help from mainstream banking institutions, particularly when it comes to minority-owned small businesses and marijuana banking services.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
