Learn about public banking law

Legal Issues

navigating legal questions

We can examine how legal experts view the central issues.

The path to creating a public bank for a city or state necessarily requires answering certain legal questions. While existing legislation varies by state, city, and county, it can be useful to examine recent legal memoranda that look deeply at the legal issues of consequence in establishing a public bank.

We’ve also included links to statutes that define the two existing U.S. public banks. 

Legal memos & analysis

public bank statutes

The following tables include links to existing statutes establishing a public bank and other useful related documents.

There are currently two public banks operating in the United States: the Bank of North Dakota, established in 1919, and the Territorial Bank of American Samoa, formed in 2018.

In 2019, California passed AB857, which established a common charter for the creation of city and regional public banks, indicating an approved way forward for the establishment of municipal banks.

Scroll to Top