I'm not sure what the purpose of public banks is. There are thousands of local banks and credit unions across the country, with many offering no fees and no minimum balances. Isn't the whole point of Credit Unions that they are non profit organizations focused on increasing accessibility and improving the community? How could you possibly compete with free Credit Unions.

The people arguing for public banks will claim that there are certain people who are blacklisted from the banking system and can't open a bank account, so a public bank is the only option for them to have access to banking services. Let me tell you, in order to get blacklisted from ChexSystem you need to have defrauded your former bank from a lot of money. This isn't a one off oopsie, and I guarantee the next sucker they will defraud will be the public bank and we all know who will be responsible for picking up that tab.