Perlmutter Defeats Amendment to Block Marijuana Banking Guidance, Blocks Funds from Penalizing Financial Institutions Serving Marijuana-Related Businesses
Perlmutter said, "Forcing legal and licensed marijuana businesses to operate in cash is extremely dangerous and would put my constituents at risk of assault, robbery and other serious crimes. This is about public safety. A cash-only business puts all our communities at risk. It is not fair to small businesses and employees in
In addition to defeating Rep.
"Passage of this amendment is a positive step forward for financial institutions and for legitimate marijuana businesses," continued Perlmutter. "Legal marijuana businesses are subject to greater risks and penalties because they do not have access to the banking system. We need to bridge the gap between state and federal lawin order to reflect the reality of the situation in a growing number of states."
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