California's new treasurer wants to spread the state's funds around to more community banks.

Though all California banks are eligible to solicit deposits from the state's short-term money fund, only 38-out of more than 350-currently do so, according to Treasurer Peter Angelides.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.