Congresswoman Rashida Tlaib Leads on Public Banking

At the February 5, 2025, House Financial Services Committee hearing, Rep. Rashida Tlaib discussed how the Bank of North Dakota (BND) partners with local lenders to keep credit flowing where it’s needed most. Over half of its $5 billion loan portfolio supports small businesses, farmers, and homeowners—proving that public banking strengthens communities, not big bank profits.

Watch Congresswoman’s Tlaib at the “Make Community Banking Great Again” hearing.

Progressive cities are pushing for public banks, yet the model has already thrived for over a century in a red state. The BND has invested $1 billion in schools, water infrastructure, and healthcare while returning another $1 billion to North Dakota’s general fund.

And when crises hit, the results speak for themselves:

• 2008 Financial Crisis – No North Dakota bank failed during the Great Recession. No foreclosures and no credit defaults. No other state can say the same!

• Pandemic Relief – Faster, more effective small business support than Wall Street banks. Without the Wall Street middleman, BND distributed funds directly to impacted small businesses, helping them stay afloat.

• Natural Disasters – Quick, local emergency response. Within two weeks of the 1997 floods in Grand Forks, ND, the Bank of North Dakota launched a disaster relief fund, allocated $5M for flood victims, and secured $70M in credit lines to local agencies and communities.

This is profit for the people, not Wall Street. The Bank of North Dakota proves public banking works—now it’s time for cities across California and the nation to take action. Let’s build it!