California Senate Approves Bill to Create Banks for the Cannabis Industry
California canna-businesses may be finally be getting a chance to open bank accounts in the near future, thanks to a new bill that just cleared the state Senate. This week, state senators voted to approve SB 930, a bill that would establish limited state charter banks and credit unions specifically for the use of licensed cannabis companies. The bill passed the state Senate with a bipartisan 29-6 vote, and will move from there to the state Assembly, where it awaits assignment to a committee.