Indopedia All Things Marijuana
U.S. Rep. Dina Titus (D-NV) wants to help those legal marijuana businesses start the New Year on a significantly safer note. Just two days after Christmas, Rep. Titus utilized some of her online muscle to encourage a legislative fix for banks working with lawful marijuana businesses.
Titus, who serves the 1st Congressional District of Nevada, and who has adamantly supported a state’s right to legalize medical marijuana, fired off an intriguing tweet Wednesday afternoon.
It is time that Congress gives marijuana businesses security and stability by passing laws that provide access to banking. https://t.co/dQ21Y3D1HT
— Dina Titus (@repdinatitus) December 27, 2017
Despite its legal status in 29 states plus the nation’s capital, depositing marijuana-derived cash is an ongoing problem for many in the industry. Under federal law, America’s banks and credit unions are strictly prohibited from taking any cash earned from the sale of state-sanctioned marijuana products.
And that’s something Rep.Titus would like to change.
The co-sponsor of a marijuana banking bill, Rep. Titus along with Rep. Ed Perlmutter (D-CO), introduced H.R. 2215 April 27. Better known as the…
