{"id":6833,"date":"2017-11-18T00:06:23","date_gmt":"2017-11-18T08:06:23","guid":{"rendered":"http:\/\/occupysf.net\/?p=6833"},"modified":"2017-11-18T00:06:23","modified_gmt":"2017-11-18T08:06:23","slug":"american-banker-public-banking-winner-2017-elections","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2017\/11\/18\/american-banker-public-banking-winner-2017-elections\/","title":{"rendered":"American Banker: \u201cPublic banking: The other winner in 2017 elections\u201d"},"content":{"rendered":"<div class=\"headline\">\n<h2><img decoding=\"async\" loading=\"lazy\" class=\"profile_image\" style=\"font-size: 12px;\" src=\"http:\/\/res.cloudinary.com\/nationbuilder\/image\/twitter\/w_73,h_73,c_fill\/2658169560.jpg\" width=\"72\" height=\"72\" border=\"0\" \/><\/h2>\n<div class=\"byline\">posted by\u00a0<span class=\"name\"><span class=\"linked-signup-name\">PUBLIC BANKING INST<\/span><\/span>\u00a0|\u00a0<span class=\"pc\">8gb<\/span><br \/>\nNovember 14, 2017<\/div>\n<\/div>\n<div id=\"content\">\n<div id=\"intro\" class=\"intro\">\n<div class=\"content\">\n<p class=\"p1\"><span class=\"s1\"><img decoding=\"async\" src=\"https:\/\/d3n8a8pro7vhmx.cloudfront.net\/pbi\/pages\/2540\/attachments\/original\/1510691476\/171114_states_working_public_bank_1026.jpg?1510691476\" alt=\"171114_states_working_public_bank_1026.jpg\" width=\"600\" \/>Phil Murphy\u2019s win in NJ has caught the attention of the banking industry. Banking financial services magazine\u00a0<em>American Banker<\/em>\u00a0contacted PBI the day after the election to ask us\u00a0 how we were seeing the success. The resulting article by Laura Alix provides a balanced and overall positive assessment and highlights that the Murphy win \u201cis being seen as a much-needed shot in the arm for the broader public-bank movement.\u201d\u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Once community banks understand how a Public Bank can partner with them to overcome regulatory and capital burdens, PBI believes Public Banks are likely to gain many more banker allies.<\/span><\/p>\n<p><em>American Banker<\/em>:<\/p>\n<blockquote><p>\u201cIt seems to me that right now the biggest challenge is fear, based on a lack of education, that the local mayor or the governor or the state treasurer is going to run a bank and they\u2019re not trained to run a bank,\u201d said Debra Figart, a professor of economics at Stockton University in New Jersey. Figart said that as more people learn about the Bank of North Dakota and its mission, they will warm up to the idea of establishing a public bank in their own city or state.<\/p>\n<p>&#8220;Murphy has said that a public bank would complement, not compete with, local banks and credit unions. His gripe is with large out-of-state banks, because the state &#8220;has no control&#8221; over how they spend state funds. As an example, he noted that one unnamed bank accepted more than $1 billion of public deposits last year but made only three loans in the state through the federal government\u2019s small-business lending program.<\/p>\n<p>Murphy\u2019s victory is one of several recent developments that have given hope to advocates of public banks. &#8230;<\/p>\n<p>&#8220;Ellen Brown, the founder and chair of the Public Banking Institute, estimates she\u2019s talked with about 20 different groups nationwide that are actively exploring options for creating public banks. Serious efforts to study the issue are also underway in Santa Fe, Seattle and Oakland.&#8221;<\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>posted by\u00a0PUBLIC BANKING INST\u00a0|\u00a08gb November 14, 2017 Phil Murphy\u2019s win in NJ has caught the attention of the banking industry. Banking financial services magazine\u00a0American Banker\u00a0contacted PBI the day after the election to ask us\u00a0 how we were seeing the success. The resulting article by Laura Alix provides a balanced and&#8230; <a class=\"continue-reading-link\" href=\"https:\/\/occupysf.net\/index.php\/2017\/11\/18\/american-banker-public-banking-winner-2017-elections\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6833"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=6833"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6833\/revisions"}],"predecessor-version":[{"id":6834,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6833\/revisions\/6834"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=6833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=6833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=6833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}