Sunday, September 14, 2025

Latest

Cannabis Banking Splits Senate Panel as Industry Seeks Relief

Cannabis banking access dominated a Senate hearing Wednesday as lawmakers debated financial services for the marijuana industry.

Sen. Elizabeth Warren highlighted how “lawful cannabis businesses have been unable to open accounts and employees of those businesses have been debanked.” The Massachusetts Democrat called for investigation into those responsible.

Committee Chairman Tim Scott emphasized examining “federally legal” businesses throughout the hearing, yet senators from both parties raised cannabis industry concerns.

“If somebody wants to work on rules of the road and do that—and bank the industry in a cohesive, sustainable way that doesn’t kind of skirt around the fact that it’s still illegal at the federal level—count me in,” said North Carolina Republican Sen. Thom Tillis.

Technology firm Flowhub collected testimonials from over 115 cannabis-related businesses, including a vineyard that lost bank accounts after its owner invested in state-legal marijuana businesses.

JPMorgan Chase’s CEO indicated the bank “probably would” serve cannabis clients if federal law permitted. Congressional analysts project the reform could add billions in marijuana revenue to the regulated banking system.

The legislation faces opposition from House Speaker Mike Johnson, who has consistently opposed cannabis reform, including banking measures, despite Trump’s endorsement of state-legal cannabis banking reform on the campaign trail.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Expert Panel Delivers Final Report on Cannabis Act, Recommendations For Excise Tax Review

The independent expert panel overseeing the review of the Cannabis Act has released its final...

Friday, March 22, 2024, 12:47:00 PM

DEA Pushes Back Against Cannabis Rescheduling

On May 16, the Justice Department formally moved to reclassify marijuana as a less dangerous...

Tuesday, May 21, 2024, 02:07:00 PM

Is There A Potential Class Action Suit Against Canada For Legalizing Cannabis?

Almost five years after Canada legalized recreational cannabis, the nation is facing a lack of...

Wednesday, August 2, 2023, 02:07:00 PM

Cannabis Rescheduling Won’t Come Before April

It appears the Drug Enforcement Administration (DEA) will be taking more time reviewing cannabis scheduling....

Wednesday, March 6, 2024, 10:17:00 AM

DEA Administrator Reportedly Didn’t Sign Cannabis Rescheduling Order, But Is It Necessary?

Recent developments regarding the signing of a marijuana rescheduling order have sparked debate and speculation...

Wednesday, May 8, 2024, 12:32:39 PM