Rep. Maxine Waters, D-California, chairs a House Financial Services Committee. Credit: Diego M. Radzinschi / NLJ
The bill, approved by the House Committee on Financial Services, is a top priority for a marijuana industry largely shut out of mainstream banking.
March 28, 2019 at 11:54 AM
1 minute read
U.S. House Democrats on Thursday advanced legislation to give cannabis businesses greater access to banking, approving protections for financial institutions for the first time in six years of legislative attempts.
The Secure and Fair Enforcement Banking Act would offer legal safe harbor for banks and credit unions that choose to serve state-approved marijuana-related businesses if they comply with a set of reporting requirements.
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