Murphy’s ‘Bank of N.J.’ Hasn’t Happened. But There’s a New Plan to Invest in Poor Communities.

August 27, 2023 | nj.com

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New Jersey’s underserved communities will soon have a new source of funding to address mounting social and economic issues thanks to an innovative financing tool included in the latest state budget.

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NJ SEED: Enabling investment in poor and “underserved” communities is a worthwhile goal. One wonders what impact a “Bank of New Jersey” would have on already established privet sector commercial banks.