A group of state treasurers across the country are urging Congress to include cannabis banking reform in the next corona-virus relief stimulus package. Advocates argue banking reform will help give the economy a needed infusion of capital while protecting marijuana workers who currently handle mostly cash transactions. In May, the U.S. House did include the SAFE Banking Act, which would enable financial institutions to serve cannabis-related businesses without fear of punishment from the federal government. Negotiations on the next corona-virus stimulus package have ultimately been delayed due to disagreements between the two parties and President Donald Trump. He signed executive orders Aug. 9 to provide some COVID-19 relief. However, in this legislation, there was no mention of marijuana. The Democratic Treasurers Association noted in a news release Monday that: A bipartisan group of state treasurers urged cannabis banking reform to be included in corona-virus relief. Furthermore, the state treasurer group criticized Republican leaders for being out of touch with the issue.
Marijuana Business Daily, 08/17/2020 12:56:45