Public Banks
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Characteristics
"Public Banks are...
• Viable solutions to the present economic crises in US states. • Potentially available to any-sized government or community able to meet the requirements for setting up a bank. • Owned by the people of a state or community, rather than by private investors. • Economically sustainable, because they operate like private banks • Able to offset tax increases with returned credit income to the community. • Ready sources of credit for local governments, eliminating the need for large “rainy day” funds. • Required to promote the public interest, as defined in their charters. (http://www.publicbankinginstitute.org/)