Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Referred to one or more standing committees for review, hearings, and possible markup.
Specific committees not parsed from action data.
The committee may hold hearings, amend the bill, or let it die without action.
Next: Reported
Full chamber floor — Speaker / Majority Leader controls scheduling
Allows banks to serve cannabis businesses without federal penalties.
The problem
Banks avoid serving legal cannabis businesses due to federal prohibition, forcing the industry to operate in cash, creating safety and financial transparency issues.
The proposal
Removes federal banking penalties for banks that serve state-legal cannabis businesses, enabling normal financial services like checking accounts and loans.
The impact
Cannabis businesses gain banking access; banks face reduced legal risk; federal-state conflicts decrease; financial system becomes safer.
Cash-only cannabis businesses become robbery targets. Banking access means businesses can deposit money safely and use electronic payments, reducing crime and violence.
Banks can track cannabis sales better, making it easier for government to collect taxes. Transparent financial records help state and federal authorities monitor the industry.
Currently legal at state level but illegal federally, creating a mess for banks. This clarifies rules so businesses and banks know where they stand.
Legal cannabis companies struggle without banking. Access to loans and financial services helps them grow and compete fairly against illegal operations.
Cannabis remains a Schedule I drug federally. This bill sidesteps that law rather than changing it, leaving legal uncertainty for banks and businesses.
Some argue banking access normalizes cannabis and may increase use. Law enforcement groups worry it weakens drug prevention efforts.
Banks serving cannabis businesses still face some federal risks since cannabis is federally illegal. Banks may demand higher fees or avoid the industry anyway.
The bill may not include enough oversight rules to prevent money laundering or ensure cannabis businesses operate legally under state law.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
Senate LDA lobbying disclosures
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