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Bobby Castanga

California Senate Passes Bill to Create Banks for Pot Businesses


The state Senate on Wednesday passed SB 930 to create a state-chartered bank for 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. The bill introduced by state Sen. Robert Hertzberg, D-Van Nuys, now heads to the Assembly.

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