The state Senate passed a bill this week to create a state charter for banks to serve 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. SB930, by state Sen. Robert Hertzberg, D-Van Nuys, now
Todd Kleperis heads an organization that uses unmarked armored vehicles and heavily-armed men (including veterans) to shuttle bundles of marijuana and bags of cash throughout southern California. He doesn’t like to talk about the details of his operation and his drivers avoid federal checkpoints at all costs. Yet what might sound like a criminal endeavor
California cannabis consumers and industry operators could enjoy a safer, more regulated legalized industry in the future, thanks to the passage of a bill to create the world’s first marijuana-focused bank. Senate Bill 930 to set up a state charter bank for the cannabis industry survived a crucial floor vote in the California Senate Thursday.
That’s why in recent years an entire industry of cannabis security companies has emerged, aimed at relieving clients of the danger of moving cannabis products and large sums of cash. Hardcar Security is one of those companies. The company’s agents, most of whom are military veterans, carry sidearms, pepper spray and wear bullet-proof vests. They
A bill proposed in California would create limited-service banks and credit unions to serve the state’s cannabis industry, according to a CNBC report. The measure, approved unanimously by the Senate Bank and Financial Institutions Committee, would allow canna-businesses to write special checks to pay some of their business expenses. What would the program look like?