Public Banking Institute
Banking in the Public Interest
Ellen Brown, an attorney and author of Web of Debt, began researching alternatives in the banking/financial sector that might empower regional governments, Main Street, and the middle class against the ruthless hegemony of Wall Street and the big banks. She soon discovered the only public bank still operating in the US: the Bank of North Dakota, which had demonstrated a highly successful economic record since its creation 90 years earlier. In researching the BND further, Ellen realized she had discovered a model bank serving the public interest, with a successful track record fostering real economic development and consistently meeting the needs of students, small businesses, community banks, disaster relief, and long term government infrastructure planning.
The Public Banking Institute stands for a transformed monetary and banking system that functions in the public interest, resulting in broadly shared prosperity. Their mission is to inspire, enable, and support public bank initiatives, returning control of money and credit to states and communities.