House panel approves marijuana banking billPosted by On



The House Financial Services Committee on Wednesday approved legislation that would allow banks to work with marijuana businesses that are legal under state law.

The SAFE Banking Act was approved by the committee in a 45-15 vote, sending the bill to the full House.

The bill, introduced by Rep. Ed PerlmutterEdwin (Ed) George PerlmutterMarijuana banking bill picks up momentum Time to bank the unbanked legal marijuana industry in this nation New push to open banks to marijuana industry MORE (D-Colo.) with 140 Democratic and 12 Republican co-sponsors, would allow banks to work with dispensaries, growers and other cannabis businesses, bringing traditionally cash enterprises into the financial system.

“Mr. Perlmutter may now take his victory dance up and down the aisle,” Financial Services Committee Chairwoman Maxine WatersMaxine Moore WatersOn The Money: Trump Fed pick owes K to IRS,…



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