Tuesday, September 10, 2013

Bank of North Dakota: The best state run bank in the United States

The only state run bank in the US is the Bank of North Dakota. It is a well managed, profitable institution operating in the public interest. The bank operates in areas other banks ignore.  It makes student loans, rural loans, affordable housing loans and economic development loans.

Bank of North Dakota

Here is a good summry presentation evaluating the idea of creating a bank in Massechuettes similar to the Bank of North Dakota.

The bank is periodically studied as an example for other states to imitate.  But the proposals never go very fars because of entrenched business interests.

Here is a review paper from the Boston Fed on the possibility of starting a similar bank in Massacheuetts. Here is the formal paper. They also have a nice video presentation on the same topic.

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