Following the passage of the November ballot initiative, it is hugely important that cannabis businesses in the nation's largest state be able to secure bank accounts, at a minimum.
The banking system ultimately needs a balanced approach to capital, which allows banks to efficiently function while also maintaining financial stability.
One step the government can take is to create a unified office dedicated to housing finance and policy to streamline existing agencies and programs and make them more efficient.
It is not a clear-cut statement to say Fannie Mae and Freddie Mac need more capital, and it detracts from the real debate over long-term housing finance reform.
A legislative proposal would expand Fannie Mae and Freddie Mac's use of specially-created debt securities to share their risk with private investors, but such risk transfer deals are not a replacement for core capital.
While other banking laws may be headed to the chopping block, the Community Reinvestment Act can address the needs of communities defined by their economic struggles.
As regulators open the door to fintech firms applying for bank charters, what has already been a long journey to this point is only going to get more intense.
