California Senate passes bill to create banks for pot businesses

counting cannabis cash

Counting cannabis cash. Photo courtesy San Francisco Chronicle.

 

The sheer volume of cash that legalized pot is triggering is generating the kind of political will needed to create a Public Bank as the solution. We ask: Why not use the power of a Public Bank to help everyone?

The San Francisco Chronicle reports:

"The state Senate passed a bill this week to create a state charter for banks to serve California cannabis businesses, which would allow licensed merchants to write checks to pay taxes, fees and vendors — rather than use large amounts of cash, as they currently do.

"SB930, by state Sen. Robert Hertzberg, D-Van Nuys, now heads to the Assembly."

[Read the full article]

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