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Cannabis Banking Access.pdf

NORML-2019-Federal-Banking-Testimony.pdf
Preview of Cannabis Banking Access
🔗 Source: norml.org
📊 Size: 87 KB
👤 Author: BrianJ
⬇️ Downloads: 96

Summary

Paul Armentano, Deputy Director of NORML, testifies before the Consumer Protection and Financial Institutions Subcommittee, discussing challenges faced by cannabis-related businesses in accessing banking services due to federal law defining them as criminal enterprises. Despite nine states permitting retail sales of recreational marijuana, generating over $1 billion in tax revenue in 2018, these businesses are forced to operate on a cash-only basis, making them susceptible to theft and difficult to audit. Armentano calls for Congress to amend federal policy to allow state-compliant businesses access to banking and financial institutions, ensuring the industry can operate safely, transparently, and effectively.

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Description

Paul Armentano, Deputy Director of NORML, testifies before the Consumer Protection and Financial Institutions Subcommittee, discussing challenges faced by...

Technical Information

  • File Format: PDF
  • File Size: 87 KB
  • Pages: 3
  • Language: EN
  • Author: BrianJ
  • Total Downloads: 96
  • Last Updated: 3 weeks ago

Document Overview

This PDF document about Cannabis Banking Access provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Cannabis Banking Access.

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