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Many Californians lack access to financial services. A public banking option could help them

Account minimums, overdraft fees, and showing ID are all common requirements for opening a bank account. But they're hurdles many Californians can't jump over.

That's why the state is considering establishing its own public banking option. CalAccount would be a no-cost banking platform without fees and penalties, managed by the state and run privately by another financial entity. It would also make it easier for unhoused people and those without state or federal ID to enroll.