Connections: Should Rochester have a publicly-owned bank?
Could or should Rochester have a publicly-owned bank? As reported by Gino Fanelli for CITY Newspaper, "the idea would have the city take the millions of dollars in tax revenue it currently deposits in big commercial banks and park the money in a city-owned and -operated financial institution that would invest in the local economy by providing inexpensive and accessible financing to city businesses, developers, and would-be homeowners."
North Dakota is currently the only state that has a public banking system. Could it work in New York State? In Rochester? Our guests explore the issue:
- Melissa Marquez, founding member of the Rochester Public Banking Coalition, and CEO of Genesee Co-op Federal Credit Union
- Simeon Banister, vice president of community programs at the Rochester Area Community Foundation
- Assemblymember Harry Bronson
- Walt McRee, senior advisor and chair emeritus for the Public Banking Institute