The bipartisan bill will allow cannabis businesses access to the federal banking system

National News

(KFDX/KJTL) — House majority leader Steny Hoyer says he intends to bring the safe banking act to the house floor for a vote this month.

The bipartisan bill will allow cannabis businesses access to the federal banking system, providing protection for banks that work with marijuana companies since the substance is still illegal under federal law.

Several states having legalized medical or recreational marijuana in recent years, resulting the federal banking issue for cannabis businesses.

The house financial committee voted 45-15 in favor of the bill in June.

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