S. 1726 and H.R. 2076 – The “Marijuana Business Access to Banking Act”
- Resolves tensions between federal and state banking laws and rules to enable financial institutions to provide banking services to marijuana businesses operating legally under state law; most of these businesses currently operate on an all-cash basis, raising serious public safety concerns and making it difficult for states to enforce regulations and collect taxes.
- Sponsored in the Senate by Sen. Jeff Merkley (D-OR) with six co-sponsors (two Republicans); sponsored in the House by Rep. Ed Perlmutter (D-OR) with 25 co-sponsors
- In the Senate, assigned to Banking, Housing and Urban Affairs Committee; in the House, assigned to Financial Services and Judiciary Committees