MONTPELIER, Vt. (AP) - A group of lawmakers wants Vermont to create a state bank, saying it would help the economy.
State Sen. Antony Pollina tells Vermont Public Radio he's been studying the operations of the only state bank in the country, in North Dakota. He thinks Vermont would benefit from a similar bank.
He says he wants to take most of the money the state temporarily invests in large, of-out-state investment banks and redirect it to a state bank that would focus on making low-interest loans to small businesses and perhaps underwrite student loans.
Burlington Rep. Suzi Wizowaty, lead sponsor of a similar bill in the House, says the plan shouldn't be seen as a criticism of Vermont banks. She thinks a state bank could offer additional benefits to small businesses.
(Copyright 2012 by The Associated Press. All Rights Reserved.)