WEED BANKING: THIS IS HAPPENING, RIGHT?

PHOTO BY JAY STONNE ON UNSPLASH

California Senate Majority Leader Bob Hertzberg's (D-Van Nuys) Bill 51 earned Assembly approval last Friday, and that means charter banks and credit unions that serve California cannabusiness are on the cusp of becoming a reality.  Cannabis Wire

• The new law would permit the Department of Business Oversight to license “cannabis depository institutions.” The institutions could take deposits as well as issue “special purpose” checks and redeem them as well. Account holders could . . .
  

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