Cannabis Industry Awaits Senate Banking Action
The cannabis industry now legal in many states is still largely a cash-only business. It's not that banks don't want to handle the industry's money; they can't by law.
Since pot is still illegal in the eyes of the feds, no federally-backed financial institution can touch cannabis cash. More than 300 members of the U.S. House voted to change that, with the passage of the SAFE Banking Act on September 25th.
Count the Oregon Cannabis Association among the appreciative. Now the question is... what will the Senate do? Kim Lundin from the OCA visits to talk about current practices and hopes for the bill on The Hill. She is joined by Sarah Niestrath from Rolling Cascades Farm in Eagle Point.