In one of the clearest signs of marijuana reform's growing momentum on Capitol Hill, a Republican-controlled Senate committee has scheduled a hearing for next week that will examine cannabis businesses' lack of access to banking services. PHOTO: TOM SYDOWThe formal discussion in the Senate Committee on Banking, Housing and Urban Affairs on Tuesday comes as legislation aimed at resolving the marijuana industry's financial services problems is gaining momentum. “This hearing is yet another sign that Congress is taking the cannabis banking problem seriously and intends to take action to correct it,” he said. “Cannabis businesses operating legally under state and local laws should have the same access to banking and financial services as any other type of business." Beyond financial services access, support on broader marijuana issues is growing in Congress.

Source: Forbes July 16, 2019 22:48 UTC