Browsing: Marijuana

Newsbytes

With the House expected to vote on the SAFE Banking Act as early as next week, the American Bankers Association today joined three financial trade associations in urging lawmakers to pass the bill, which would allow depository institutions to serve the needs of customers in states where cannabis is legal.

Policy

Senate Banking Committee Chairman Mike Crapo (R-Idaho) signaled today that he will hold a committee vote on a bill that would help financial institutions serve marijuana-related businesses in states with legal cannabis.

Newsbytes

In a joint op-ed in Fox Business today, ABA President and CEO Rob Nichols and Credit Union National Association President and CEO Jim Nussle called on lawmakers to resolve the existing conflict between federal and state law with respect to proceeds from cannabis-related businesses.

Policy

In a letter to Senate members on Friday, ABA offered support for S. 1200, the Secure and Fair Enforcement Banking Act—a bipartisan Senate bill introduced by Sens. Jeff Merkley (D-Ore.) and Cory Gardner (R-Colo.) that would enable financial services for legitimate cannabis-related businesses.