Growing Push For State-Run Banks Would Harm Consumers And Taxpayers

Have you ever been at the local branch of your bank and thought “I wish this was more like being at the DMV?” If you somehow answered “yes” to that question, then the concept of public banking may be for you.

Legislators in states like Oregon and New Mexico have proposed legislation to allow state and local governments to create and operate public banks. At the federal level, Reps. Alexandria Ocasio-Cortez and Rashida Tlaib have introduced legislation intended to incentivize the creation of these publicly-operated banks through grants.

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