California cannabis banking invoice strikes nearer to governor’s desk

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A California invoice that may create a separate class for banks and credit score unions to deal with cannabis money moved by way of an Meeting committee Tuesday, inching nearer to the governor’s desk after having already acquired the Senate’s stamp of approval.

Of the 19 members of the Meeting Enterprise and Professions Committee, 12 voted to maneuver the invoice on to the Meeting Appropriations Committee

The invoice would “bolt onto the present construction of banks and credit score unions a course of whereby we are able to create a restricted constitution” for monetary establishments to deal with the money produced by California’s authorized cannabis business, in keeping with its creator, Sen. Robert Hertzberg, D-Van Nuys. Whereas California voters legalized cannabis statewide final 12 months, as a result of cannabis remains to be outlawed on the federal degree,…

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