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Legislator Questions

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All Questions (8)

  • fates says:
    Your comment is awaiting moderation. This is a preview, your comment will be visible after it has been approved.
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    Category: All Questions
    Tag: R.Helm

    Another answer

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    Tags: cities, R.Helm

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    Tag: R.Helm
  • Gregory Anderson says:
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    This BND internal reference also seems operative to answer the pertinent question: “BND has a robust internal audit department to ensure compliance with federal banking regulations and employs an aggressive external audit schedule as well.”
  • Gregory Anderson says:
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    It’s Annual Report is made to the ND state “Industrial Commission. ” And… “The North Dakota Department of Financial Institutions provides audit oversight to Bank of North Dakota, but has no regulatory authority over BND.” And… “BND is not FDIC Insured: In contrast to most commercial banks, BND is not a member of the Federal Deposit Insurance Corporation (FDIC). North Dakota Century Code 6-09-10 provides that all BND deposits are guaranteed by the full faith and credit of the State of North Dakota. Minneapolis Federal Reserve Bank: BND has a business relationship with the Minneapolis Federal Reserve Bank. We do check processing, deposit excess cash balances, maintain a reserve requirement, safe keep all our Fed book entry securities and have discount window borrowing authority.
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    Category: All Questions

    It looks like there’s been a positive update in California on cannabis banking. The CA Legislature passed a bill that would allow for state chartered cannabis banks. Previously, the State Treasurer had recommended public banks NOt be allowed to accept business from cannabis businesses. Gavin Newsom approved the change allowing it this past September.

    http://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200SB

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    Notes - Mayors (1)

    Tag: M.Gamba

    Supports this bill

    Likes “loaning our money to ourselves for income-stream infrastructure”

    Milwaukie is creating Oregon’s only ADA compliant city. Infastructure cost of $52 million will cost 84mil to impliment due to interest and fees.

    Mark will contact League of Oregon Cities to arrange a meeting. He will also share project costs so we can gin up scenarios using private vs public bank bonds.

    Also interested in seeing Pot industry have a bank option

    Suggested contacting Ted Labbe who is well-connected and out pushing Participatory Budgeting

    Mark Gamba

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    Category: Notes - Mayors

    Notes - Representatives (3)

    Tag: R.Helm
    QUESTIONS:
    Who oversees BND (regulatory agency?)
    What other colleagues are interested? Who else is taking the lead?
    Where does the Treasurer Reed stand on this? (would sway his opinion)
    Where does Beaverton stand on this?
    Affordable housing initiatives efforts have been tough…
    related to COVID impact on opppurtunity zones

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    Tag: R.Power

    Definitely interested in sponsoring!

    In response to not asking too much of Rep Fahey: Don’t underestimate Julie Fahey.  She has an incredible capacity; ask her to chief sponsor

    Her Focus:

    Wildfire Recovery! Smoke for people who didn’t lose houses, how do we help them with retrofits?

    Local Improvement Districts and public banking

    Check with governors’ council for economic recovery

     

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    REP NERON WANTS THIS TO HAVE BIPARTISAN SUPPORT!
    Is there Republican aversion to Dems being in charge and allowing this kind of thing? Do they see it as a power grab?
    Her family is from North Dakota, and she felt an affinity with that history.
    Her Questions:
    How do Credit Unions feel about this?
    What do the following people stand on Public Banks?
    State treasurer
    Dan Rayfield
    Nancy Nathanson
    Betsy Johnson
    She advocated getting Mayors on board (this could be their legacy) and pointed to all the potential new mayors (I did not catch them all), including
    Jules Walters
    Julie Fitzgerald (former Republican) Wilsonville (running against Ben West)
    Sarah or Ted in Portland

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    Notes - Senators (1)

    He suggested Republican Senators who might like it:
    Finley
    Hansel
    Knopp
    Greg Smith
    Gerard
    Republican House Membevers:
    Sark
    Helt
    WANTS TO KNOW WHAT “COMPARABLE” STATES ARE DOING (Not N. Dakota or California)
    Need to show how Public Banks SUPPORT CONSUMER BANKS and Credit Unions and the whole banking environment.
    Suggested connected with
    Find out who elected officials are in other states through the National Conference of State Legislators (NCSL)
    He can have his office reach out but we need to follow up
    He says we should get support of Chairs of Committees:
    Business & Labor
    Revenue Committee
    Ways & Means
    Rules
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    Sponsors (2)

    Tag: R.Power

    Definitely interested in sponsoring!

    In response to not asking too much of Rep Fahey: Don’t underestimate Julie Fahey.  She has an incredible capacity; ask her to chief sponsor

    Her Focus:

    Wildfire Recovery! Smoke for people who didn’t lose houses, how do we help them with retrofits?

    Local Improvement Districts and public banking

    Check with governors’ council for economic recovery

     

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    He suggested Republican Senators who might like it:
    Finley
    Hansel
    Knopp
    Greg Smith
    Gerard
    Republican House Membevers:
    Sark
    Helt
    WANTS TO KNOW WHAT “COMPARABLE” STATES ARE DOING (Not N. Dakota or California)
    Need to show how Public Banks SUPPORT CONSUMER BANKS and Credit Unions and the whole banking environment.
    Suggested connected with
    Find out who elected officials are in other states through the National Conference of State Legislators (NCSL)
    He can have his office reach out but we need to follow up
    He says we should get support of Chairs of Committees:
    Business & Labor
    Revenue Committee
    Ways & Means
    Rules
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    Team Members (1)

     
    I think it prudent to also point out something contained in my reply, which is that the “deposits are guaranteed by the full faith and credit of the State of North Dakota.”  That got me to thinking that, at some point, this could become an issue, or question as it relates to any given municipal bank here.  It seems that I recall someone several months ago saying that cites/municipalities are not legally allowed to lend their credit to a stand-alone bank even if it owns the bank.  Yes/No??  Has this already been addressed, or resolved??

    Category: Team Members

    To Schedule (6)

    Category: To Schedule

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    Wash County Commissioner

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