I wonder if the payment systems have been persuaded.

RollCall (from 9/23) says there was a banking provision in the NDAA (National Defense Authorization Act). The House passed the act a few days later (yesterday?). I haven't checked to see if that provision was still in it.

The question, as always, is the Senate.

An amendment to the House defense authorization bill that would connect cannabis companies to the banking system has bipartisan support in both chambers, but its chances in the Senate are uncertain.

Late on Tuesday evening, the House agreed by voice vote to adopt an amendment offered by Rep. Ed Perlmutter, D-Colo., that would bar federal banking regulators from taking action against banks that serve cannabis businesses operating legally under state law. The amendment attaches provisions of Perlmutter’s cannabis banking bill to the fiscal 2022 defense authorization bill.

“I’ve been talking for years about the serious public safety threat that exists in our communities. The SAFE Banking Act will strengthen the security of our financial system and keep bad actors like cartels out of the cannabis industry,” Perlmutter said in a statement, using the acronym for the bill’s title. He added that he will work with colleagues in the Senate to ensure that provisions make it into the final bill.

Supporters of such legislation say shutting legal cannabis businesses out of the banking system forces them into cash transactions that involve greater risks, including for theft and money laundering.

[...]

Cheers,
Scott.

Post #439,992 by static 9/26/21 5:54:48 AM 9/26/21 5:54:48 AM Reply	I wonder if the payment systems have been persuaded. I heard a few years ago that in Colorado all purchases of weed had to be in cash because the card processors wouldn't give the retailers merchant facilities. Which then creates a whole new problem of dealing with large amounts of cash. Wade.
Post #439,995 by drook 9/26/21 9:02:07 AM 9/26/21 9:02:07 AM Reply	They know under Biden they won't face federal prosecution So they're probably looking at how much they can make over 4 years, against the the risk of what might happen under the potential next administration. IOW I don't actually know, but I do know it's gonna happen. -- Drew
Post #439,996 by Another Scott 9/26/21 10:26:37 AM 9/26/21 10:26:37 AM Reply	NDAA RollCall (from 9/23) says there was a banking provision in the NDAA (National Defense Authorization Act). The House passed the act a few days later (yesterday?). I haven't checked to see if that provision was still in it. The question, as always, is the Senate. An amendment to the House defense authorization bill that would connect cannabis companies to the banking system has bipartisan support in both chambers, but its chances in the Senate are uncertain. Late on Tuesday evening, the House agreed by voice vote to adopt an amendment offered by Rep. Ed Perlmutter, D-Colo., that would bar federal banking regulators from taking action against banks that serve cannabis businesses operating legally under state law. The amendment attaches provisions of Perlmutter’s cannabis banking bill to the fiscal 2022 defense authorization bill. “I’ve been talking for years about the serious public safety threat that exists in our communities. The SAFE Banking Act will strengthen the security of our financial system and keep bad actors like cartels out of the cannabis industry,” Perlmutter said in a statement, using the acronym for the bill’s title. He added that he will work with colleagues in the Senate to ensure that provisions make it into the final bill. Supporters of such legislation say shutting legal cannabis businesses out of the banking system forces them into cash transactions that involve greater risks, including for theft and money laundering. [...] Cheers, Scott.
Post #440,002 by static 9/27/21 1:30:58 AM 9/27/21 1:30:58 AM Reply	Nice.

Welcome to IWETHEY!