CA treasurer pushes state-run bank for cannabis businesses

California’s state treasurer isn’t waiting on the federal government to solve marijuana businesses’ banking problem. Treasurer John Chiang and members of a working group he formed are calling on California officials to create a state-government-run bank to serve marijuana companies, the Los Angeles Times reported. The recommendation by Chiang’s group bolsters a growing movement that wants cities and states to create public banks for marijuana businesses. Here’s what you need to know:
  • Over the course of the year, Chiang’s group heard from cannabis business owners about their banking challenges and difficulties paying taxes.
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... CA treasurer pushes state-run bank for cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs