Safe Banking Practices
ND Non Partisan League created the only state owned bank in the country for the people. What this did was create competition amongst the banks who had a strangle hold on ND. This bank is constitutionally bound from expansion as the NPL historically did not believe in big government takeover. This bank has lead to 100s of millions of dollars of revenue to be deposited into the general fund of ND to relief taxes in the state. The federal government needs to look to the states and the things that work and pass along the information to build the bridges between the states for creation of similar programs. While regulation is necessary competition will ultimately decide. As the swamp of money in Washington grows, banking regulations will become more and more difficult to pass. Creating a public option is the fastest way to give the American people something that works. The bank of ND offers the lowest student loan interest rate in the country and has interest buy down programs for development projects. While it is restricted on some services the bank is a very useful tool for the people of ND and should be shown to other states.
- State run banks nationwide.
- Public option banking.
- Reinstate Glass Steagall and other banking regulations.
- Create a federal credit union under the social security act.