Politics

Marijuana banking measure rejected by congressional committee

*US Govt. owns patent on Cannabinoids as antioxidants and neuroprotectants​. Current Assignee US Department of Health and Human Services (HHS) Original Assignee US Department of Health and Human Services (HHS) Priority date 1998-04-21 HERE

After a lengthy and impassioned debate during which at least 19 lawmakers spoke, it was defeated on a voice vote by the House Appropriations Committee 
… a number of likely Republican supporters were absent during the debate, and others who are sympathetic to marijuana law reform expressed varying concerns about the specific proposal.

The broader measure would have prevented the U.S. Department of Treasury from taking any action to “penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, producer, or a person that participates in any business or organized activity that involves handling marijuana or marijuana products” in accordance with state or local law … If it were successfully attached to legislation to fund the Treasury Department for Fiscal Year 2019, would have provided added assurance to banks that federal officials won’t close them down for working with the cannabis industry. A similar measure was approved by the full House of Representatives in 2014 by a margin of 231 to 192, but was not included in final spending legislation that year, and congressional Republicans have since blocked floor votes on most cannabis measures.

Original Article (Forbes):
Marijuana Banking Measure Rejected By Congressional Committee
Artwork Fair Use: Public Domain

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