A former top state marijuana regulator and current executive at a cannabis consulting firm will participate in a Senate committee hearing on banking issues this week.
While attention within the cannabis community is largely focused on a potentially imminent marijuana rescheduling decision by President Donald Trump, the Senate Banking Subcommittee on Financial Institutions and Consumer Protection will likely be discussing an adjacent issue for the marijuana industry: The lack of banking access for cannabis companies under federal prohibition.
Tyler Klimas—who served as executive director of the Nevada Cannabis Compliance Board (CCB) and was a founding member of the Cannabis Regulators Association (CANNRA) before becoming the founder of Leaf Street Strategies—will testify before the panel as the Democratic minority’s witness.
The hearing, which is scheduled for Tuesday, is titled “Ensuring Fair Access to Banking: Policy Levers and Legislative Solutions.” The description of the meeting doesn’t specifically mention marijuana, but Klimas’s participation signals that, at least on the Democratic side, there’s interest in addressing the industry’s banking issues.
The hearing is set to take place about two weeks after a GOP member of the House Financial Services Committee, Rep. Warren Davidson (R-OH), raised the cannabis banking issue with Comptroller Jonathan Gould at
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