PBI News
North Dakota’s Public Bank Protects Farmers from Tariff and Market Chaos
The sudden imposition of agricultural tariffs on China by the Trump Administration has caused considerable hardship and financial loss in farming sectors around the country. But anticipating financial troubles before they impact state residents is a step that North Dakota’s public bank has been taking for decades through fires, floods, droughts and market shocks. Faced
We Are In A Crisis – How To Build Communities That Can Respond
The more we build solidarity at a community level, the stronger position we will have to resist autocratic moves coming from the federal level. It is hard to rule over communities with a strong sense of self-awareness. We also need to create aspirations for something better, and hold institutions accountable for reaching them, especially governing
NYC’s Boom and Bust Economy: Why Elite-Driven Growth Undermines the City’s Economic Stability
By Historian Daniel Wortel-London In The Menace of Prosperity, Daniel Wortel-London offers a timely and engaging analysis of three distinct periods of fiscal crisis in New York City — the 1870s, 1930s, and 1970s. Wortel-London explores how different groups diagnosed the city’s economic troubles in each period and what lessons their remedies hold for present-day
A Local Self-Reliance Agenda for New York City
Promising Policy Changes New York City’s new Mayor Zohran Mamdani is already moving the needle on public interest policy changes designed to make significant reductions to the cost of living for citizens. Among the many policy suggestions submitted to the new Administration is a policy agenda that examines the cost of letting distant corporations manage
Ellen Brown on Financing Philadelphia’s Future
https://www.youtube.com/watch?v=PUjAQ4r3slU FPF host Vanessa Lowe in conversation with Ellen Brown, Author and founder of Public Banking Institute, discuss the opportunities and challenges emerging from the chaos being generated by the Trump Administration. As the structures of our monetary systems are being stressed in unprecedented ways, the prospects for public banking are difficult to predict. Nevertheless,
Which Is More Profitable, JPMorgan Chase or the Bank of North Dakota?
Which Is More Profitable, JPMorgan Chase or the Bank of North Dakota? JPMorgan Chase (JPM) is by far the largest U.S. bank, with $2.4 trillion in deposits. The Bank of North Dakota (BND) is a midsized bank distinguished for being the only state-owned depository bank in the country. Which is more profitable? We
Financing Philadelphia’s Future E 37
FPF explore potential responses to our housing and development challenges with Council member Gauthier including the prospective role of the Philadelphia Public Financial Authority and public bank. [Watch video]
Bill would establish public banking in New York, starting in Rochester
A push is on to introduce public banking in New York state, and start the trend in Rochester.
While a bill to allow municipalities to start their own public banks has floated around for several years, a focus on the Flower City is gaining traction.
What is a public bank? Tousif Ahsan of the New Economy Project says localities currently use large private banks to deposit tax dollars because of the size of those deposits.
Arizona bill SB 1206 would establish the public Sovereign State Bank of Arizona
Reflecting the broad nonpartisan appeal of having local control over the state’s own money, Arizona has a new public bank bill, SB 1206. Text of the bill includes, “This State shall engage in the business of banking, and shall maintain a system of banking, owned, controlled and operated by the State under the name of Sovereign State Bank
New on Substack | Ellen Brown on Tackling California’s Budget Crisis: Raise Taxes, Cut Programs, or Form a Bank?
We’ve cross-posted the latest article from PBI Co-Chair Ellen Brown on our Substack. As the state’s budget deadline of June 15 looms, Ellen examines an alternative solution to California’s potentially catastrophic “Doom Loop” $73 billion deficit: “In 2022, the state of California celebrated a record budget surplus of $97.5 billion. Two years later, according to the Legislative Analyst’s Office, this
Eric Hardmeyer, former longtime CEO, Bank of North Dakota, has passed away
All at PBI are deeply saddened to learn that Eric Hardmeyer, longtime CEO of the Bank of North Dakota and invaluable educator for the public banking movement, passed away February 24 at the age of 64 of complications from lung cancer. Eric shared his enormous wealth of public banking expertise with public banking groups and