House Democrats Move Forward With Cannabis Banking Access Hearing

The first cannabis-related congressional hearing of the new session is titled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses,” Tom Angell reports for Forbes.

The hearing will be held February 13 in a subcommittee of the House Financial Services Committee.

“The upcoming hearing presents a real opportunity for the Democratic Party to assert their leadership by finally beginning the conversation on how we end the failed policy of marijuana criminalization,” said Justin Strekal of NORML.

“Chairwoman Waters has made it one of her first priorities to address this urgent and overdue issue, demonstrating that she understands the threat to public safety and the need for Congress to act. We have a bipartisan proposal to allow well-regulated marijuana businesses to handle their money in a way that is safe and effective for law enforcement to track. I am eager to get to the work of refining it and passing it into law.” — Rep. Denny Heck (D-Washington), via Forbes

Many lawmakers were upset at the derailing of previous efforts to address the cannabis industry banking issue. In the formerly Republican-controlled House, most efforts didn’t leave committee due to interference by key Republican lawmakers.

It has yet to be revealed who will testify at the hearing with the Consumer Protection and Financial Institutions Subcommittee.