Congress Eyes New Way to Allow Cannabis Banking, DC Sales

Congress Eyes New Way to Allow Cannabis Banking, DC Sales

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Perlmutter and his allies in Congress are now trying to cut off funding for federal enforcement actions against banks and credit unions that serve cannabis businesses. Finding a Way . The Fed and other regulatory agencies have made it clear that states can’t create new financial institutions for the cannabis industry.

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Getting a cannabis cash into a Federal Reserve has been like finding the holy grail. In Colorado, credit unions have sued in order to be able to establish a master account, which is the key to cannabis banking. This past summer, the Fourth Corner Credit Union won a partial victory when a court said that [.]

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Congressional Funding Bill Protects Cannabis Banking And Lets DC Legalize Marijuana Sales. Published. 1 month ago. on.. chief sponsor of the standalone cannabis banking bill, said of the new appropriations rider.. but consumers who are not medical marijuana patients have no legal way to.

Provisions in a proposed federal spending bill would protect banks that work with the cannabis industry and would finally allow Washington, DC, to greenlight retail cannabis sales.

Last month, District of Columbia Mayor Muriel Bowser (D) referred a marijuana legalization bill to councilmembers in anticipation of Congress removing the ban under the newly Democratic-controlled House of Representatives. She cheered the new congressional legislation in a tweet on Sunday. Illinois just approved legal sales of #marijuana for adults

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TN senator introduces bill to legalize medical marijuana. Facebook Twitter Linkedin Reddit Tumblr Google+ Pinterest Vk Email. Related Posts. Congress Eyes New Way to Allow Cannabis Banking, DC Sales. June 3rd, 2019 | Comments Off on Congress Eyes New Way to Allow Cannabis Banking, DC Sales.

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Under both medical and recreational marijuana laws in Washington, D.C., consumers may possess no more than two ounces of marijuana at any time. Medical dispensaries are required to track all sales to registered cardholders, ensuring they never exceed two ounces in a 30-day period.

The States Act, reintroduced in Congress in April with bipartisan support, would allow states to legalize cannabis. against illegal sales activity, and ensure funds generated before state.

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