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.
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.”