Removing Barriers Blog

Marijuana Provisions in the Federal Spending Bill
Posted May 03, 2017 by CUNA Advocacy

Over the weekend, the House and Senate agreed to a spending package to fund the government through the end of the fiscal year – September 30, 2017. Included in this legislation package was language extending the policy prohibiting the Department of Justice from using federal money to interfere with state medical marijuana laws (Section 537). 

Marijuana businesses operating under state laws that have legalized medicinal or recreational cannabis have, for the most part, been denied access to the mainstream financial system because institutions that provide financial services to such businesses can be prosecuted under federal law. This has led many of these businesses to operate using large amounts of cash, creating safety risks and making taxation difficult. 

CUNA will continue to monitor future marijuana financial services legislation.