by Anthony Colombo | Jan 21, 2017 | Local Economies, National, News, Public Bank, Public Banking
On Nov. 4, Seattle City Council member Kshama Sawant proposed legislation to allow credit unions and community banks to manage the deposits of the city, deposits that are currently managed by Wells Fargo. Wells Fargo has been caught defrauding customers while giving...
by Anthony Colombo | Jan 18, 2017 | Commercial Banking, National, News, Public Bank, Public Banking, Santa Fe
Come the fall, the city government could sever ties with a bank that’s helping to fund the Dakota Access Pipeline. Santa Fe in 2013 approved a four-year contract with Wells Fargo, agreeing to pay the bank about $449,000 over the period for fiscal agent services. But...
by Anthony Colombo | Jan 16, 2017 | Local Economies, National, News, Public Bank, Public Banking
PUBLIC banks have an excellent track record in helping states and cities finance infrastructure, among other public services. In his Jan. 1 guest column, Michael Waite overlooks this fact, failing to mention that North Dakota has used a state-owned bank for nearly 100...
by Anthony Colombo | Jan 7, 2017 | Monetary Policy, National, News
New information on conflicts of interest that would challenge even a saint While the president-elect’s finances remain murky, due largely to his refusal to release his tax returns, the newspaper reports that he owes at least hundreds of millions of dollars, that the...
by Anthony Colombo | Jan 7, 2017 | Monetary Policy, National, News
Northwest Ohio supporters of Senator Bernie Sanders in his run for President have launched a nationwide push to enlist other organizations to send it letters and take to social media to endorse a demand that President-elect Donald Trump fulfill a campaign pledge....
by Anthony Colombo | Dec 29, 2016 | Commercial Banking, Monetary Policy, National, News
Source: Federal Deposit Insurance Corporation In 1934 the U.S. had 14,146 commercial banks holding insured deposits. By 1985, that number had barely budged, standing at 14,417. Then came the Bill Clinton administration in the 1990s and its reckless and unprecedented...