Cannabis banking bill advances in committee; full US House vote expected within weeks

A key U.S. House committee voted resoundingly Thursday to provide federal protection for financial institutions that serve state-authorized marijuana and ancillary businesses, a landmark development for cannabis banking legislation.

The House Financial Services Committee voted 45-15 to advance the bill, the Secure And Fair Enforcement (SAFE) Banking Act, after amending it to include provisions to provide a safe harbor for insurance companies and improve access of financial services to minority- and women-owned cannabis businesses.

The full House is expected to vote on the bill within weeks.

Read the full article at mjbizdaily.com