Around New England

Ayanna Pressley Voices Support For Public Banking

May 12, 2022

Massachusetts does not have a state-owned bank.

U.S. Representative Ayanna Pressley (D-Hyde Park) wants that to change.

Pressley voiced her support for a state-owned bank in Massachusetts earlier this week.

“Establishing a public bank in Massachusetts will provide financial stability for our most vulnerable while advancing racial & economic justice,” Pressley said on Twitter earlier this week.

Only one state in the country currently has a state-run bank:  North Dakota. It’s called Bank of North Dakota.

Although North Dakota is a Republican-leaning state, the idea has gained support in Democratic-leaning states New Jersey and California.

 

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