The first and so far only public bank in the United States is the Bank of North Dakota, founded more than a century ago. Its long and successful history of fostering local economic development and partnering with local banks proves that public banking works.

On March 30, the California Public Banking Alliance, a coalition of several groups working on municipal and county public bank campaigns, hosted a town hall discussion, with Eric Hardmeyer as keynote speaker. Eric is a former CEO and president of Bank of North Dakota, which he led for more than 20 years. His presentation begins 40 minutes in, preceded by statements by CPBA activists and several California officials who are working in the legislature and on the local level to support and establish public banks.

You can watch the presentation here.