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Populist bank

In 1919 a populist rage swept the northern plains over lack of credit for farmers; the Nonpartisan League got elected in North Dakota and formed the Bank of North Dakota, the only state-owned bank in the U.S.  While other banks were losing billions, BND earned a record profit last year — and half its profits go to the state budget.  Could it be replicated?  Mother Jones interviews BDN’s president.

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Category: banks & credit, economy

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  1. […] model is the Bank of North Dakota, the nation’s only state-owned bank, created during a populist upsurge in 1919.  BND holds […]


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