For many years, legal marijuana companies in states have been trying to obtain traditional financial services, such as checking accounts, payroll services, credit cards and working capital lines of credit. The U.S. House of Representatives passed a U.S. competition bill on Friday, including the safe bank act, which enables banks to provide services for the marijuana business, and will provide banks and other financial institutions with a "safe harbor" to serve the state's legitimate marijuana business. However, it is unclear whether the measure will be passed by the whole Congress. The safe bank act was also attached to the defense budget bill, but was stripped by the Senate leadership.
Source: mjbizdaily com
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