Citizens and state officials in Maryland are catching on to the Move Your Money wave. Not only are individuals switching to small banks and credit unions, but the state legislature is also considering a bill to give preference to state-chartered banks for business with state or municipal governments. The Baltimore Sun’s Eileen Ambros reports:
- Not only do some Marylanders appear to be heeding that call, but now some bigger customers are looking to make a break with the megabanks.
The Maryland General Assembly is considering legislation that would essentially give state-chartered banks an edge when bidding to serve state agencies or local governments.
Del. Bill Frick, a Montgomery County Democrat who sponsored the legislation, says he’s been frustrated watching giant out-of-state banks gouge Marylanders with high fees and rate increases.
“Why do we turn around and give them our money on state contracts?” he says. “Why do we want our state dollars going into Wall Street bonuses instead of local small business loans?”
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Small business is so important to the future of this country. Move your money and get back to the community and support local business.
I want to say – thank you for this!
Great. Now i can say thank you