Bank officials and cannabis industry representatives joined together to urge Congress to allow marijuana businesses access to banking services. At a hearing of the House Consumer Protection and Financial Institutions Subcommittee, lawmakers heard from advocates of the Secure and Fair Enforcement (SAFE) Banking Act of 2019 who are seeking support for the bill.

Due to federal drug and money laundering regulations, even cannabis businesses operating legally under state laws are often unable to obtain financial services regularly used by other industries.

See the original article at High Times