Senate Democrats To Reportedly Push Banking Reforms For Cannabis Industry

By Edward Helmore, The Guardian on December 4, 2022

Justice department is scrutinizing measures’ implications on law enforcement investigations and prosecutions.

Democrats in the Senate will push to liberalize banking access to the cannabis industry during the lame duck session, it was reported on Saturday, in moves being watched closely by the Department of Justice which is concerned that reforms could ‘complicate’ the industry’s legal status.

A justice department memo, obtained earlier this week by Punchbowl News, outlines how implementation of a bill to reform the banking rules for cannabis companies “could significantly complicate law enforcement investigations and prosecutions”, though it also notes that the department believes that subject to minor changes “it can effectively implement the legislation”.

– Read the entire article at The Guardian.