Tenth Amendment Center – by Mike Maharrey
SACRAMENTO, Calif. (June 6, 2018) – Last week, the California Senate passed a bill that would establish limited state-chartered banks to serve the cannabis industry. Final passage of this legislation would remove a major federal roadblock in front of the developing marijuana industry in the state and further nullify federal prohibition of cannabis.
Sen. Bob Hertzberg, (D-Van Nuys), along with a bipartisan coalition of nine cosponsors, introduced Senate Bill 930 (SB930) in January. The legislation would create a self-contained banking system for the cannabis industry in California. Continue reading “California Senate Passes Bill to Create Banking Alternative for Cannabis Industry, Bypass Federal Reserve”


