The United States cannabis industry celebrated a victory in September when lawmakers in the US House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking in Cannabis Act by 321-103 votes. The landmark Act, if passed by the US Senate, would allow financial institutions like banks, credit unions and insurance companies to work with cannabis companies without fearing retribution.
While a legal green card would certainly remove some barriers for banks and money lenders looking to get into the cannabis industry, legal retribution isn’t the only thing holding financial institutions back.
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