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House Working Toward Cannabis Banking Relief

The House of Representatives is inching closer to voting on a banking cannabis business relief bill after the Financial Services Committee voted to move the bill out of committee to a full House vote. The bipartisan legislation designed to shield lenders from federal penalties when they serve cannabis businesses in states where marijuana has been legalized. The House is expected to vote on the bill to ease federal marijuana restrictions as a growing number of states permit the sale of the drug. The Senate is considering relief for banks that service the cannabis industry but the draft bill language is still being “shopped” around the Senate in hopes for more Republican co-sponsors.