Marijuana banking lobbying intensifies, as conferees seek deal

As House and Senate conferees struggle to come to an agreement on a massive competitiveness bill, lobbying is intensifying in an effort to convince them to include marijuana banking legislation in the measure.

The House-passed bill contains it; the Senate measure doesn’t, so it is up to conferees to resolve the issue.

In recent days, 24 senators, the National Association of Federally-Insured Credit Unions (NAFCU) and state cannabis regulators have all sent letters to congressional leaders stressing the need to allow marijuana-related businesses to have access to traditional financial services. The Credit Union National Association also has endorsed the measure, as has National Credit Union Administration board member Rodney Hood.

 

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