It's the furthest that cannabis banking legislation has ever advanced in the U.S. Senate.
Marijuana grows Aug. 15, 2019, at an indoor cannabis farm in Gardena, California.WASHINGTON, D. C. - The U.S. Senate’s banking committee, chaired by Ohio’s Sherrod Brown, on Wednesday signed off on legislation that would let cannabis companies access the banking system, the furthest such legislation has ever gone in the U.S. Senate.
It cleared the committee in a 14-9 vote. Most Republicans on the committee – including Ohio’s JD Vance – opposed the measure, and most Democrats supported it. “Cannabis banking is just one part of the necessary conversation about marijuana policy,” said Brown, a Cleveland Democrat. “There is still much work to be done to acknowledge and mend the damage done by the war on drugs, work to make sure everyone – including our veterans – has access to the medicine they need and allow medical and scientific research on cannabis.”
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