Charles Edward Russell
The counting room of the Bank of North Dakota, circa 1920. It remains the only public bank in the United States.
Proponents of public banks say the city could save on fees and better leverage its savings to pursue its broader policy goals (for economic development, environmental protection and more) if it banked through a public mechanism.
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Founded in 1976 in the midst of New York’s fiscal crisis, City Limits exists to inform democracy and equip citizens to create a more just city. The organization is a 501(c)(3) nonprofit funded by foundation support, ad sponsorship and donations from readers.
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Support local, investigative journalism that has informed and empowered New Yorkers for 45 years.
