House Approved Coronavirus Relief Package that Includes Marijuana Banking

House Approved Coronavirus Relief Package that Includes Marijuana Banking

Admin
MAY 18TH, 2020

Coronavirus Relief Package

House Approved Coronavirus Relief Package that Includes Marijuana Banking

On Friday, May 15th 2020, the House approved a coronavirus relief package that included provisions that would protect banks that service state-legal marijuana businesses from being penalized by federal regulators. The vote was 208 to 199.

Many advocates, stakeholders, and lawmakers have been pushing for cannabis reform to be made regarding the COVID-19 legislation. The Secure and Fair Enforcement (SAFE) Banking Act, which has been previously passed by the House last year as a standalone bill, represents a significant victory to that end.

While the House approved the coronavirus relief package, it’s not said whether the issue will proceed in the Senate. Some GOP members were against the banking legislation, arguing that it was not relevant and is an example of irrelevant items that were included in the Democratic “wish list”.

It’s likely that some changes will be made when the Senate receives the bill. The new coronavirus stimulus bill also included a section that would help people with prior convictions to become eligible for SBA’s Paycheck Protection Program (PPP).

Read more here: https://www.marijuanamoment.net/house-approves-marijuana-banking-again-as-part-of-coronavirus-bill/

YOU MIGHT ALSO BE INTERESTED IN

June 4th, 2026
Latest Cannabis News: June 4, 2026
June 3rd, 2026
Why Are Medical Cannabis Operators Pursuing DEA Registration?
June 2nd, 2026
Cannabis Compliance Gaps: What Many Operators Discover During DEA Readiness Reviews

SIGN UP TO STAY INFORMED

IT’S TIME TO GET GROWING.

Better growth and a clear plan forward is what your business needs. Reach out to us to book a consultation or get your action plan
started.
CONTACT

/* CBA native share bar — replaces the retired AddThis shortcode in .share-it on single posts */ (function () { function initShare() { var box = document.querySelector('.share-it'); if (!box || box.querySelector('.cba-share')) return; if (!document.getElementById('cba-share-css')) { var css = document.createElement('style'); css.id = 'cba-share-css'; css.textContent = '.share-it{font-size:0}.share-it h5{font-size:14px;letter-spacing:.08em}' + '.cba-share{display:flex;flex-wrap:wrap;gap:8px;margin-top:10px}' + '.cba-share a,.cba-share button{font:500 13px/1 inherit;padding:8px 14px;border:1px solid #cfd6cf;' + 'border-radius:999px;color:#2f6b34;background:#fff;text-decoration:none;cursor:pointer;transition:.15s}' + '.cba-share a:hover,.cba-share button:hover{background:#2f6b34;border-color:#2f6b34;color:#fff}'; document.head.appendChild(css); } Array.prototype.slice.call(box.childNodes).forEach(function (n) { if (n.nodeType === 3 && /\[addthis/i.test(n.textContent)) box.removeChild(n); }); var url = encodeURIComponent(location.href); var title = encodeURIComponent((document.title || '').replace(/\s*\|\s*CB Advisors\s*$/i, '').trim()); var links = [ ['X', 'https://x.com/intent/tweet?url=' + url + '&text=' + title], ['LinkedIn', 'https://www.linkedin.com/sharing/share-offsite/?url=' + url], ['Facebook', 'https://www.facebook.com/sharer/sharer.php?u=' + url], ['Email', 'mailto:?subject=' + title + '&body=' + url] ]; var bar = document.createElement('div'); bar.className = 'cba-share'; links.forEach(function (l) { var a = document.createElement('a'); a.href = l[1]; a.textContent = l[0]; a.setAttribute('aria-label', 'Share on ' + l[0]); if (l[0] !== 'Email') { a.target = '_blank'; a.rel = 'noopener noreferrer'; } bar.appendChild(a); }); var copy = document.createElement('button'); copy.type = 'button'; copy.textContent = 'Copy link'; copy.setAttribute('aria-label', 'Copy link'); copy.addEventListener('click', function () { var label = copy.textContent, done = function () { copy.textContent = 'Copied'; setTimeout(function () { copy.textContent = label; }, 1500); }; if (navigator.clipboard && navigator.clipboard.writeText) navigator.clipboard.writeText(location.href).then(done, done); else done(); }); bar.appendChild(copy); box.appendChild(bar); } if (document.readyState !== 'loading') initShare(); else document.addEventListener('DOMContentLoaded', initShare); })();