U.S. Senate panel favors banking for pot businesses
A key Senate committee passed a bill today allowing the nation’s capital to establish regulated marijuana stores and let banks provide financial services to state-legalized marijuana dispensaries.
The Senate Appropriations Committee voted 16-14 today in support of opening up banking services to marijuana businesses in Colorado other states where they operate legally. The amendment was offered by Sen. Jeff Merkely (D-OR) said in the short debate preceding the vote. “This is an invitation to robberies, money laundering, and organized crime”. Dianne Feinstein of California was the only panel Democrat to oppose it. Lisa Murkowski (AK), Bill Cassidy (LA) and Steve Daines (MT).
The U.S. House voted four times this year to let states set their own marijuana policies (twice on medical marijuana, twice on hemp).
It is time for Congress to change federal policy so that this growing number of state-compliant businesses, and their consumers,...
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