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Committee hears SJR 5 urging Congress to pass SAFER Banking Act for cannabis businesses
Summary
Senator Kazmaier and banking and cannabis-industry witnesses told the committee the resolution would help move state-legal cannabis businesses out of cash-only operations; no opponents spoke and the sponsor asked the committee to add the resolution to the agenda for executive action.
Senator Kazmaier introduced Senate Joint Resolution 5 to the House Business and Labor Committee, asking the U.S. Congress to pass the SAFER Banking Act to allow federally regulated financial services for state-legal cannabis businesses.
"It is simple resolution ask that United States Congress to pass the Safer Banking Act," Senator Kazmaier said, saying the change would let licensed…
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