US House will consider marijuana banking bill
A bill to provide federal protection for banks serving state-legal marijuana businesses is scheduled for markup next week by the U.S. House Financial Services Committee, a notable development for cannabis banking legislation.
The bill, known as the SAFE Banking Act, would bar federal bank regulators from punishing banks for working with cannabis businesses complying with state laws.
MJBizDaily takeaway: The SAFE Banking Act has “a great chance” of passing both the Democratic-controlled House and the Republican-controlled Senate, Marijuana Policy Project spokesman Mason Tvert said.
“We think members of Congress are ready to take action on cannabis policy, and this is an urgent measure that members should be able to get behind.”