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News About Public Banking
Gubanatorial candidate Stephen Smith's West Virginia Can't Wait platform "will build a fair and sustainable economy with a state bank that keeps our wealth here and benefits our people, rather than out-of-state interests". This vision includes infrastructure development, small farm and business loans, dividends paid directly to the citizen's of the state (like Alaska's dividends) and much more.
While U.S. advocates and local politicians struggle to get their first public banks chartered, Mexico’s new president has begun construction on 2,700 branches of a government-owned bank to be completed in 2021, when it will be the largest bank in the country. At a press conference on Jan. 6, he said the neoliberal model had failed; private banks were not serving the poor and people outside the cities, so the government had to step in.