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Bill would transfer state money from big banks

Posted: 3:10 pm Wed, March 17, 2010
By Associated Press

ANNAPOLIS — Some lawmakers who are angry about high interest rates at big banks are pushing to shift state contracts into local community banks.

Delegate Bill Frick, D-Montgomery, held a news conference on Wednesday to talk about a measure he’s sponsoring to move state money away from “Wall Street megabanks.”

Making a reference to St. Patrick’s Day, he says it’s time “to take our pot of gold back.”

Frick says it’s time to bank state money in places where bankers act in the best interest of consumers and communities.

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