More than 100 years since the only surviving public bank was established in North Dakota, the nation's largest state has begun exploring the option. California Treasurer John Chiang — a gubernatorial candidate — and Atty. Gen. Xavier Becerra told reporters last week that they would study how to establish a state-owned bank to service the hundreds of marijuana-related businesses that have had difficulty securing reliable financial services because of federal anti-drug laws.
This would be a tremendous step forward and also a tremendous missed opportunity. >>>