A “safe harbor” bill that would allow state or local licensing authorities, agencies or joint powers to share regulatory and financial data with financial institutions as a means of facilitating commercial banking is set to have a California Senate hearing on Aug. 11.
- Assembly Bill 1525 says financial services—including public accounting firms—are not guilty of criminal offense under California law “solely by virtue of the fact that the person receiving the benefit of any of those services engages in commercial cannabis activity as a licensee.”
- The Reginald Jones-Sawyer (D-Los Angeles) bill, which is supported by the California Credit Union League, passed the Assembly by a 68 to 1 margin.
- The Minority Cannabis Business Association will host a Wednesday webinar on social equity and real estate. The session is free for members of MCBA, social equity owners, and people applying for social equity licenses.
Cannabis Business Times
- Caliva has been hit with a class-action ADA suit over “an incompatibility with screen-reader software used by the visually impaired.”