Wednesday, March 27, 2019

House Committee Set To Pass Marijuana Banking Bill, But May Stall In the Senate

Congress is finally opening their eyes to the possibility of immense financial flow thanks to the cannabis industry. At this point, industry businesses have to operate in cash or go through Canada to make exchanges. In the U.S. it's cash for every part of the industry. No U.S. banks have ever been open... allowed to do 'green rush' business.

BUT! That may all change today!

Marijuana industry cash may soon be off the street and flowing into bank accounts today, thanks to  a House committee, expected to pass a bill that would make it happen.  Cannabis companies that follow state laws would be provided bank services the so-called SAFE Act would allow.

The SAFE Act debate takes place today in the House Financial Services Committee, who'll sort it all out.

Meanwhile, banking industry analysts say that even though the House is open to considering, even PASSING bills like this one, the Republican led Senate is expected to be a hard sell. 

Senate Majority Leader Mitch McConnell reportedly is not interested in debating weed on the Senate floor.

Look for House Financial Services Committee LIVE feeds on this today.