January 22, 2022

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Marijuana Banking Amendment Faces Big Hurdles for National Defense Act Inclusion

1 min read

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Chances of a marijuana banking amendment making it into the National Defense Authorization Act are still cloudy, despite a public push from several governors, federal lawmakers and financial organizations.

An amendment containing Colorado Representative Ed Perlmutter’s SAFE Banking Act was successfully added to the NDAA in the United States House of Representatives, but the Senate has proved much tougher. The amendment would allow financial institutions to offer loans, lines of credit, checking accounts and other traditional financial services to state-legal marijuana businesses. The legislation has passed the House a handful of times as a standalone bill or as an amendment to other budget bills since 2019, but it has not yet come up in the Senate.

Because of marijuana’s federal…

Thomas Mitchell

2021-12-03 13:44:00

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