California Cannabis Safe Harbor Banking Bill Advances

California Cannabis Safe Harbor Banking Bill Advances

Bloomberg reports Banks and accountants wouldn’t be committing crimes under California law by providing services to cannabis clients under a bill that passed the state Assembly 60-1 on Monday. The measure, Assembly Bill 1525, would help cities and counties collect taxes. It would also let state agencies share track-and-trace data with banks to facilitate the financial institutions’ due diligence reporting obligations, an Assembly floor analysis said. Read full report at Bloomberg – Paywall https://news.bloomberglaw.com/banking-law/california-cannabis-safe-harbor-banking-bill-advances

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Source : CANNANNEW REPORT
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