San Francisco and Los Angeles may soon have a municipal bank. Philadelphia has had its own bank since 2022. North Dakota has had a state bank since 1919. Current Arizona law bans such municipal banks, but a Democratic legislature can undo that prohibition. With interests rates high, the advantages are lower costs and more liberal loans. A Tucson bank keeps money here rather than into the coffers of large for profit commercial bank share holders.
Ronald Spark
Midtown
Disclaimer: As submitted to the Arizona Daily Star.
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