In a recent article published by Non Profit Quarterly regarding Economic Democratic Weekly, it is clear that there is more legislative activity and public bank formation is underway in California, New York and other areas in the States.
The focus is clearly on keeping revenue local for local investments and more democratic decision-making process about where/how local monies are invested. A public bank is an excellent alternative to sending permanent fund investments to Wall Street investment groups whose interest is for mostly non-NM investments.
