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Pot Banking Gets Its First-Ever Congressional Hearing

Feb. 12, 2019, 10:34 AM

The cannabis industry’s bid to get its cash out of backpacks and into bank vaults is getting some early attention from the House Financial Services Committee.

The panel’s Consumer Protection and Financial Institutions Subcommittee will hold the first-ever Congressional hearing on banking the cannabis industry Feb. 13 with a focus on how marijuana--related companies could get increased access to financial services.

“It confirms that marijuana banking has gone from a peripheral issue a few years ago to an issue that is really front and center in the discussion about the current banking landscape,” John Vardaman, a former Justice Department official ...

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