Last week, on February 13, the U.S. House Committee on Financial Services’ Subcommittee on Consumer Protection and Financial Institutions held a hearing about the issue of cannabis banking and the SAFE Banking Act. This hearing discussed allowing marijuana-related businesses in states with existing regulatory structures to access the banking system.
The cannabis industry faces many hurdles along the path to federal legalization. One of the major obstacles faced by cultivators, processors, and dispensary owners is a lack of clear direction for financial institutions about how to provide banking services for those state-legal, licensed cannabis businesses. In this educational video, learn more about the federal banking crisis and the Congressional solution that can fix it