U.S. Senate’s Top Democrat Signs Bill to Allow Cannabis Banking

Marijuana Businesses Access to Banking ActSenate Minority Leader Harry Reid (D-Nevada) has signed on as a cosponsor to legislation that would allow legal cannabis businesses to gain access to federal and state banking systems.

The Marijuana Businesses Access to Banking Act, which was introduced by Senator Jeff Merkley, would allow cannabis businesses that are legal under their state’s law to access banking systems, giving banks immunity from federal prosecution if they decide to work with such businesses.

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