Marijuana Banking Bill Passes House in Historic Vote | National News | US News

The legislation, if ultimately made into law, would protect financial institutions and ancillary firms that serve marijuana businesses from criminal prosecution and other consequences – a long-awaited move that would provide stability and security to the multibillion-dollar cannabis industry.

…The bill moved out of the House Financial Committee in March and was sponsored by more than 200 lawmakers at the time of the vote. It is backed by a slew of national banking groups, including the American Bankers Association, the Credit Union National Association and the Independent Community Bankers of America, which have pushed Congress to act on the issue for some time. The National Association for State Treasurers, a bipartisan group of more than 30 state attorneys general, and the governors of 20 states have urged Congress to pass the bill.

Marijuana Banking Bill Passes House in Historic Vote | National News | US News

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