9 hours in the past
World Marijuana Information
The Home’s marijuana banking invoice, referred to as the SAFE Banking Act, now has 206 co-sponsors and its listening to will happen this month.
Governors from 20 states and 50 state banking associations are supporting the invoice, Forbes reported. High monetary regulators for 25 states and the Nationwide Affiliation of State Treasures additionally assist the invoice.
President and CEO of CUNA (Credit score Union Nationwide Affiliation), Jim Nussle mentioned, “At its coronary heart, cannabis banking is a public security situation. It’s an $8.three billion trade that’s at the moment being compelled to function nearly solely in money. Whereas 33 states, territories and DC have legalized cannabis, it’s been overwhelmingly troublesome to supply these companies monetary providers as a result of dealing with transactions are at the moment thought of cash laundering. Credit score unions have been main the way in which in serving to to get this cash off the streets. We’re devoted to discovering an answer to this ongoing problem that impacts each neighborhood across the nation, and look ahead to working with Senate leaders throughout this listening to and with Congress at massive.”
The invoice’s supporters are hoping that motion is taken on the invoice earlier than the August recess.