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Ivey Defends Bank Plan to Democrats

By Alabama Public Radio

Montgomery, AL – Republican State Treasurer Kay Ivey is facing off against some Democratic state legislators. Ivey says one of her new proposals is not subject to legislative review. The proposal would take $805 million in state deposits out of banks that don't make lots of loans. Russellville Senator Roger Bedford and Montgomery Representative Alvin Holmes say the plan could cause banks in their districts to lose state deposits. The two also complained to the Legislative Council Thursday that Ivey instituted the plan without consulting banks, the Governor or the Legislature. Bedford and Holmes asked the Council to tell Ivey that she should submit her new policy to the council for approval. But the Legislative Council decided not to take any action until Attorney General Troy King finished his review of Ivey's policy.

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