Marijuana Industry Banking Access Is A 'Quandary' That Needs To Be Solved With Legalization, Key GOP Senator Says

Marijuana Industry Banking Access Is A 'Quandary' That Needs To Be Solved With Legalization, Key GOP Senator Says

The Republican senator who heads up the Banking Committee says the fact that marijuana remains illegal at the federal level while more states legalize it has created a “quandary” for cannabis businesses and banks that wish to serve them. “Congress is going to have to make it legal, because today even though the president has declassified it or reduced its impact, the truth is it is still illegal,” Sen. Tim Scott (R-SC), who chairs the Senate Com…

U.S. Senate Banking Committee Chair Tim Scott Says Congress Must Act on Marijuana Banking

The Marijuana Herald - Marijuana news and information U.S. Senator Tim Scott (R-SC), who chairs the Senate Banking, Housing, and Urban Affairs Committee, says Congress will need to act before marijuana businesses can gain reliable access to the federal banking system, even with the Trump administration moving to reschedule marijuana. Speaking Tuesday during an appearance aired by C-SPAN, Scott said federal lawmakers still need to address marijua…

Marijuana Industry Banking Access Is A ‘Quandary’ That Needs To Be Solved With Legalization, Key GOP Senator Says

The Republican senator who heads up the Banking Committee says the fact that marijuana remains illegal at the federal level while more states legalize it has created a "quandary" for cannabis businesses and banks that wish to serve them. "Congress is going to have to make it legal, because today even though the president has declassified it or reduced its impact, the truth is it is still illegal," Sen. Tim Scott (R-SC), who chairs the Senate Com…