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A Democratic congresswoman, Rep. Betty McCollum, is criticizing the exclusion of provisions to protect banks working with state-licensed marijuana and hemp businesses from a key spending bill. She expressed disappointment about the cannabis policy omissions, highlighting the need for all businesses to have access to financial services and emphasizing the growth of the hemp industry. While supporting cannabis banking access, McCollum also acknowledged Rep. Andy Harris's efforts to ban intoxicating hemp-derived cannabinoid products. Many hemp businesses operate in cash due to banks' fear of federal penalties. A bipartisan coalition of state attorneys general also called for a marijuana banking bill. Despite efforts, other legislative priorities have taken precedence, and the bill's introduction is not imminent. The spending bill does include a report directing federal agencies to assess state-level marijuana regulatory models and maintains provisions blocking Washington, D.C. from legalizing cannabis sales with its tax dollars.

Congresswoman Criticizes Missing Cannabis Banking Protections in Spending Bill

Sep 5, 2025

Source:

Kyle Jaeger

Marijuana Moment

It’s the same old story on Capitol Hill, as another key spending bill just moved forward without essential banking protections for the cannabis and hemp industries. Representative Betty McCollum (D-MN) recently called out the House Appropriations Committee for skipping over these "common sense" provisions, which would finally allow state-legal businesses to stop lugging around bags of cash and actually use a bank. While it’s great to see 32 state attorneys general also pushing for the SAFER Banking Act, Congressional leadership keeps letting other priorities jump the line.

To add insult to injury, the bill still includes that tired old rider blocking Washington, D.C. from using its own tax money to set up a recreational market. For everyday tokers, this political foot-dragging is more than just a headache; it keeps prices higher and makes dispensaries targets for crime. Real banking access is the missing link needed to stabilize the market and ensure the shops we love can thrive safely. It’s high time the feds caught up with reality.

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