Q: Will a public bank compete with local banks?


A public bank on the Bank of North Dakota model would not compete with local banks. It would accept deposits only or principally from state and municipal governments — not individuals, organizations or businesses.

Public banks following the lead of the Bank of North Dakota would partner with local and regional banks, allowing them to make loans and take deposits that normally would be out of reach because of their small size. North Dakota (with its 99-year-old publicly owned bank) has more banks per capita than any other U.S. state.

Rather than competing with local private banks, public banks help create a diverse, robust private banking system that truly serves the public.



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