Q: Will a public bank compete with local banks in my area?


A public bank does not compete with local banks. It does not accept deposits from individuals, organizations, and businesses – only from the state and municipal governments. For local and regional banks, a public bank can also serve as a support system, allowing them to make loans and take deposits that normally would be out of their reach because of their small size. As an example, North Dakota, home of the publicy owned Bank of North Dakota, boasts the most banks per capita of any state in the nation.  This is just one of the benefits of public banking - support of a diverse and robust private banking sector that truly serves the public.


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