image of the U.S. Capitol surrounded by money Source: AdobeStock

New York State’s legislative session came to an end on Saturday. Fortunately, another year went by without the passage of legislation, supported by the Chairs of the Assembly and Senate Banks Committees, to create a so-called public bank.

The idea has been around for a while, and despite its very obvious flaws and few legislative successes, it refuses to go away. Ten states and municipalities currently have proposals, and the idea has adherents in the progressive wing of the Democratic Party, which has grown increasingly frustrated with the perceived lack of help from mainstream banking institutions, particularly when it comes to minority-owned small businesses and marijuana banking services.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.