Federal cannabis banking law introduced

This coming week the U.S. House of Representatives will introduce H.R. 1595, the SAFE Banking Act of 2019 that is intended to legalize cannabis banking. The bill has already cleared the Financial Services Committee and is expected to be voted on through a process known as ‘suspension of the rules’ that requires two-thirds of the chamber (290 members) to support the bill for passage.

It is uncertain what outcome we should expect but the bill already has 206 bipartisan co-sponsors.

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