In a San Francisco Chronicle op-ed today, ABA President and CEO Rob Nichols warned that California’s municipalities should avoid chartering new public banks under recently enacted state law A.B. 857.
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California Gov. Gavin Newsom yesterday signed A.B. 857, a bill that provides a pathway for local government entities in the state to charter public banks.
As it marks its centennial, North Dakota’s public bank does its work through private-sector partnerships.
Christie Obenauer’s family-owned bank had a problem. Based in a rural county in western North Dakota, her community had been dealing with the prospect of population decline, but then the North Dakota energy boom brought an influx of newcomers. “It’s a wonderful problem to have.”