New marijuana banking reform roadblock has CEOs doubtful about solutions

Marijuana Business Daily

By Lisa Bernard-Kuhn

The latest legislative defeat of a proposed banking fix for U.S. cannabis firms has leaders across the industry skeptical that a solution is on the horizon any time soon.

A proposal that would have offered protections for financial institutions that open bank accounts for legal cannabis firms was sidelined late last week by the U.S. Senate Appropriations committee. The move follows the defeat of a parallel amendment in the House a week earlier.

Although momentum is building in the banking industry for more clarity and support of federal cannabis reform, industry players argue the recent legislative blocks signal there is still a long road ahead.

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