Connecticut legislators propose a new state bank

CT state capitol, Hartford

CT state capitol, Hartford

 

Connecticut legislators have moved forward with a flurry of legislation aimed at creating a public State Bank of Connecticut. Each co-chair of the banking committee has introduced separate legislation: Rep. Ezequiel Santiago’s version proposes a state-owned bank for community development. Sen. Alex Bergstein’s version proposes the bank be for transportation infrastructure funds and she’s introduced another bill to authorize a study on an expanded regional public bank to include New York, New Jersey, Massachusetts and Rhode Island.

This significant advance follows a Public Banking Institute-led informational meeting that included several CT legislators.

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