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House likely to pass pot banking bill, but is that as far as it goes?

WASHINGTON — Banks and credit unions may be moving one step closer to federal legislation freeing them to serve legal marijuana businesses, but the path to enactment is still fraught with huge challenges.

The House Financial Services Committee is poised to advance a bill within days that would protect financial institutions that open accounts for legal cannabis providers from penalty, and all signs point to the full House passing the measure. Such protection would be a boon for banks that, despite the substance being legal in more than 30 states, are restricted as a result of the federal ban on marijuana.

But even though President Trump has indicated support for legislat…
Banking Industry News

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