Too many Californians lack access to basic banking services. Chased away by the cost of an account, the associated fees such as overdrafts or distrust of banks, an estimated one-fourth of California households don’t use basic financial services. They often rely on costly check-cashing services to gain access to their earnings and face substantial fees for money orders to pay their bills. And they’re usually the people who can least afford it. That’s why a coalition of left-leaning lawmakers, labor unions and public banking advocates on Tuesday unveiled a plan for state-administered bank services that would offer free accounts to any California resident. But before the state jumps into the ba
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