House to vote on bipartisan cannabis banking bill this month

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The House will vote later this month on a bipartisan bill that will allow cannabis businesses access to the federal banking system. Cory Gardner of Colorado, has yet to be voted out of the Senate Banking Committee. The committee, however, held a hearing in late July on the challenges faced by the cannabis industry in banking, and considered the SAFE Banking Act. Committee Chair Mike Crapo, who does not support the federal legalization of marijuana, told Politico he would hold a vote on cannabis banking legislation, but he left open whether he would work off the SAFE Banking Act. "I remain focused on passing the SAFE Banking Act out of the House and look forward to working with my colleagues in the Senate as they take up the SAFE Banking Act or work to develop and pass similar legislation," Perlmutter said in a statement Friday.

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The House will vote later this month on a bipartisan bill that will allow cannabis businesses access to the federal banking system. House Majority Leader Steny Hoyer intends to bring the SAFE Banking Act to the House floor for a vote this month, his office confirmed to CNN. Hoyer announced at the whip meeting Thursday on Capitol Hill that he would like to advance the legislation, according to his office. "We're discussing it with members, but it hasn't been scheduled just yet," Mariel Saez, a spokesperson for Hoyer, told CNN via email. The SAFE Banking Act would provide protections for banks that work with marijuana companies since the substance is still...

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