Sunday, June 3, 2018

California Senate Backs Banks for Marijuana

By Monterey Bud
Source: marijuana.com

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The California State Senate voted Wednesday, May 30, 2018, to create a system of state-chartered banks for the state’s budding marijuana industry. Senate Bill 930 was approved by a bipartisan vote of 32-6 and seeks to allow the state’s licensed marijuana businesses to legally access state-regulated banks and credit unions.
The banks and credit unions would be regulated by the Department of Business Oversight and allowed to conduct transactions for cannabis businesses.
 

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