Glass-Steagall Act & the Volcker Rule

The Glass-Steagall Act created federal deposit insurance and erected a strict barrier between commercial and investment banking activities. It was repealed in 1999. In the aftermath of the financial crisis, many people, including prominent economists, policymakers, and even bankers, have called for restoring Glass-Steagall. The Volcker Rule, a provision in the Dodd-Frank financial reform bill, imposed some limits on the mixing of commercial and investment banking activities, but not the firm wall that Glass-Steagall had provided. … Read More

Depositing Public Funds in Local Banks

A growing number of states and cities are considering or enacting policies that move government bank accounts to small community banks and credit unions. These bills have two primary motivations: To withdraw public funds from big banks that have imposed high fees on customers and engaged in predatory mortgage lending, redlining, and other practices that destroy … Read More

Depositing Public Funds in Local Banks – New Mexico (Proposed)

The bill would give New Mexico-based banks and credit unions that otherwise meet the state’s banking requirements a 10 percent preference in bidding to be the state’s fiscal agent, the institution that manages its day-to-day banking business.  The bill also requires the New Mexico Treasurer and the State Investment Council to develop an investment policy for funds held in CDs (certificates of deposit) that would increase community bank lending to local residents and businesses.… Read More

Market Share Cap — State Deposit Caps

Federal law prohibits banks from amassing, through mergers and acquisitions, more than 30 percent of the deposits in any one state.  The law also gives each state the authority to raise or lower its own cap, or to abolish it altogether. Here we list the cap adopted by each state.… Read More

Financing Public Art – Dallas

The city recognizes the importance of expanding the opportunities for its citizens to experience public art and other projects resulting from the creative expression of its visual artists in public places of the city.  The city further recognizes the substantial economic benefits to be gained in the form of increased tourism through enhancement of public spaces and consequent retail activity throughout the city.  A policy is established in this article to include works of art and design services of artists in certain city capital improvement projects.… Read More

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