“The current predicament of a rapidly expanding national marketplace without access to the national banking systems has resulted in an untenable situation.”
Members of the United States Senate Committee on Banking, Housing, and Urban Affairs are scheduled to hear testimony next week regarding the need to provide greater access to financial services for state-licensed marijuana-related businesses.
In the first in what are anticipated to be multiple Congressional votes to address the federal prohibition and criminalization of marijuana, the House Financial Services Committee will today voted to advance The SAFE Banking Act, HR 1595.
Members of Congress this morning unveiled the 2016 Omnibus Appropriations bill, legislation that is responsible for funding the federal government through the 2016 fiscal year. While stand alone marijuana related bills rarely gain traction in Congress, the annual omnibus appropriations bill has become a tool for federal lawmakers to pass marijuana related language into annual spending guidelines.
Members of the Senate Appropriations Committee voted 16-14 today in favor of an amendment to allow state-compliant marijuana businesses to engage in relationships with financial institutions.
This afternoon, the House of Representatives voted 231 to 192 in favor of the Heck-Perlmutter-Lee-Rohrabacher…
Today, the Department of Justice and the Financial Crimes Enforcement Network division of the Treasury…
Federal officials are poised to unveil new regulations allowing for financial institutions to legally interact with licensed businesses that are engaged in cannabis commerce. “They (retail facilities that dispense cannabis) want to be able to use the banking system,” US Attorney General Eric Holder said. “And so we (the Obama administration) will be issuing some regulations I think very soon to deal with that issue.”