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

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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.

With his signing of the bill, Senator Reid joins eight other Democrats and a Republican who have signed on as sponsors of the measure.

So far the legislation has yet to be advanced out of its initial committee, though having the support from the Senate’s top Democrat made certainly help it gain some momentum.

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  • vickia52
    November 21, 2015

    this is definatley in the right direction, next is to legalize in all 50 states

  • Richard Bland
    May 24, 2016

    Hello Anthony, Thanks a lot for this great news. Today it has become easy for the Banking institutions to work with cannabis dispensaries. You are going in the right direction. Keep posting such useful articles.

    Through your blogs people will get to know about the real truth of marijuana and its use.

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