Cannabis Industry News: Access To Banks
Today, Part of Congress voted to allow cannabis businesses to have access to banks. This has been a crucial part for the industry, and today marks a spot in history for the cannabis industry. A vote of 45 Aye's and 15 no's tells a telling story on the rapid changes of perception on the industry within congress.
"HR 1595, the Secure and Fair Enforcement (SAFE) Banking Act, legislation that would harmonize federal and state law by prohibiting federal banking regulators from engaging in certain actions against financial institutions, such as discouraging, prohibiting, or penalizing depository institutions that serve cannabis-related legitimate businesses.
This legislation was introduced by Congressman Ed Perlmutter (D-CO), Congressman Denny Heck (D-WA), Congressman Steve Stivers (R-OH), and Congressman Warren Davidson (R-OH). It passed by a vote of 45-15."
The Hemp Store will be following this bill all the way through Congress and hope to see more progression in the House. The future for the cannabis industry is looking bright in 2019.
Interested in what The Hemp Store offers to the cannabis market? Check out our CBD products @ The Hemp Store's Shop
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