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Cannabis Banking Bill Approved By Congressional Committee

Floor action has unfortunately not yet been scheduled

A congressional committee voted on Thursday to approve legislation aimed at increasing cannabis businesses’ access to banks.

Following multiple days of lengthy debate and consideration of several amendments, the House Financial Services Committee voted 45 to 15 to advance the legislation to the full body.

Floor action has not yet been scheduled, but cannabis reform advocates are hopeful that the committee approval of the banking bill is a sign Democrats are ready to move broad cannabis reforms this year.

Indeed, House Rules Committee Chairman James McGovern (D-MA) said in a radio interview on Wednesday that he expects the chamber to vote on legislation to end federal cannabis prohibition within a matter of “weeks.”


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