Four years after America’s “bigger is better” banking model collapsed under its own weight, there are signs of a shift towards more local, accountable, and borrower-friendly banking across the country.
In Maryland, a Lend Local bill under consideration would require the state to move more of its public deposits out of large out-of-state Wall Street banks into community banks, who lend more, per dollar of bank assets, to in-state businesses. As our colleague Jason Judd wrote in an op-ed published Monday in the Baltimore Sun: