Marijuana Law, Policy & Reform

Editor: Douglas A. Berman
Moritz College of Law

Tuesday, February 12, 2019

House Subcommittee to hold hearing on Feb. 13 on "Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses"

Tomorrow afternoon, as detailed on this official webpage, the Subcommittee on Consumer Protection and Financial Institutions of the US House Committee on Financial Services will have hearing on the topic of banking access for cannabis businesses. One focal point for the hearing is consideration of draft legislation, the "Secure And Fair Enforcement Banking Act of 2019" or the "SAFE Banking Act of 2019," which is designed to allow marijuana-related businesses in states with existing regulatory structures to access the banking system. 

In addition to being the first-ever congressional hearing on banking for marijuana businesses, I sense this is the first of a series of possible effects by the Democratic-controlled House to move forward on various possible federal legislative reforms.  A few days ago, Click the Committee produced this Memorandum providing background, and here is the scheduled "Witness List":

  • The Honorable Fiona Ma, California State Treasurer
  • Maj. Neill Franklin (Ret.), Baltimore City & Maryland State Police Departments, and Executive Director, Law Enforcement Action Partnership (LEAP)
  • Ms. Rachel Pross, Chief Risk Officer, Maps Credit Union, on behalf of Credit Union National Association (CUNA)
  • Mr. Gregory S. Deckard, President, CEO and Chairman, State Bank Northwest, on behalf of Independent Community Bankers of America (ICBA)
  • Mr. Corey Barnette, Owner, District Growers Cultivation Center & Metropolitan Wellness Center

 

UPDATE: Here now are links to all of the written testimony of witnesses at this hearing:

https://lawprofessors.typepad.com/marijuana_law/2019/02/house-subcommittee-to-hold-hearing-on-feb-13-on-challenges-and-solutions-access-to-banking-services-.html

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