US Senate Committee Approves Opening Banking For Marijuana Businesses
- By Johnny Green | Weed Blog
- Jun 17, 2016
- 1 min read
EndFragment
A U.S. Senate committee voted today in support of opening up banking services to state-legal marijuana businesses. By a vote of 16-14, the Senate Appropriations Committee passed an amendment to the Financial Services and General Government Appropriations bill, forbidding the use of federal funds to penalize financial institutions that serve marijuana businesses operating legally under state law. The amendment was offered by Sen. Jeff Merkley (D-OR).
“For the second year in a row, the Senate’s budget writers have voted to address the banking crisis facing our industry,” saidNational Cannabis Industry Association executive director Aaron Smith. “Access to basic banking services is one of the most critical challenges facing legal cannabis businesses and the state agencies tasked with regulating them.”
“While an appropriations amendment isn’t a permanent fix to the banking problem, it is a significant step to correct a dangerous and unfair burden on responsible small-business owners and regulators.
“Bipartisan coalitions in both chambers have supported these reforms. It’s time to make them the law of the land.”
EndFragment
Comentários