The House Financial Services Committee approved a bill by a 45-15 vote to make it easier for banks and credit unions to do business with cannabis-related companies.
The SAFE Banking Act (H.R. 1595) would ensure federal regulators couldn’t take enforcement actions against financial institutions that do business either directly or indirectly with the cannabis industry, so long as the businesses are lawful at the state level.
The bill has the broad support of the financial services industry, which would like to work with an industry that generates billions annually but operates almost entirely in cash. Lawmakers supporting the bill view ...
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