U.S. House of Representatives Votes to Ease Cannabis Banking Laws

The United States House of Representatives has voted in support of making it easier for banks to do business with cannabis outletscannabismoney1 that are legal in the states they operate in.

The vote, which was 236 to 186, came Tuesday on legislation introduced by Louisiana Representative John Fleming, who was attempting to block the Treasury Department from implementing a memo it issued in February in conjunction with the Justice Department which tells banks that they won’t necessarily run afoul of federal law if they allow cannabis-related businesses to bank with them.

The Treasury guidance was intended to give banks confidence that they can deal with cannabis businesses in states where they’re legal, though it doesn’t actually legalize cannabis banking.


1 thought on “U.S. House of Representatives Votes to Ease Cannabis Banking Laws”

Leave a Comment