The 'Socialist' Bank Thriving In Trump Country

Progressive political candidates have clamored to launch public banks in the lead-up to the 2026 midterm elections. However, there is just one active example in the United States: the Bank of North Dakota. Chartered in 1919, this bank uses tax revenue from the state to fund and execute strategic economic development priorities for North Dakota. The bank has assisted in sales of fossil fuel assets, a presidential library, and general lending to citizens and businesses in need. CNBC's Garrett Downs reports on this “socialist experiment” unfolding deep in Trump country. Chapters: 00:00 Introduction 01:14 Strategic investments 03:32 Cowboy socialism 06:34 Politics Reporter: Garrett Downs Produced and Shot by: Carlos Waters Edited by: Andrea Miller Additional Camera by: David Soltis Animation: Jason Reginato, Emily Park Senior Managing Producer: Shawn Baldwin Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #cnbc The 'Socialist' Bank Thriving In Trump Country