Will Public Banks be a banking alternative for the cannabis industry?

It looks like there’s been a positive update in California on cannabis banking. The CA Legislature passed a bill that would allow for state chartered cannabis banks. Previously, the State Treasurer had recommended public banks NOt be allowed to accept business from cannabis businesses. Gavin Newsom approved the change allowing it this past September.

http://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200SB

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