The state’s banks are urging lawmakers to take steps to allow them to better compete for local and state government deposits that they say are now flowing to out-of-state financial institutions at a cost to the Kansas economy. The banks say state law is structured in a way that local and state governments are less inclined to invest their funds locally than they are with institutions from out of state, which they say reduces the amount of capital for Kansas businesses that want to expand. Source: Sunflower State Journal
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