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US House Approved Marijuana Banking Bill

The  U.S.  House  of  Representati ves has  approved a  B ill that prohibits regulators from penalizing banks or credit unions that do business with a  legitimate ganja  operator. The Bill also prohibits penalties against related  service providers or state or local governments with jurisdiction over the businesses. The  B ill exempts  ganja  business transactions from being considered proceeds from illegal activity and subject to anti-money-laundering laws. It would also prohibit banking regulators from asking banks to terminate a customer account unless there was a valid reason aside from reputation risk.

O.U.R

The  U.S.  House  of  Representati ves has  approved a  B ill that prohibits regulators from penalizing banks or credit unions that do business with a  legitimate ganja  operator. The Bill also prohibits penalties against related  service providers or state or local governments with jurisdiction over the businesses. The  B ill exempts  ganja  business transactions from being considered proceeds from illegal activity and subject to anti-money-laundering laws. It would also prohibit banking regulators from asking banks to terminate a customer account unless there was a valid reason aside from reputation risk.

O.U.R.

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