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It’s official: No marijuana banking protections from current Congress

The current session of Congress is poised to end without any progress on major marijuana reform measures, including banking protections.

With Congress needing to pass a spending bill by the end of the week to avoid a partial government shutdown, a budget proposal was unveiled late Tuesday that included disaster aid and cash for farmers.

But the plan offered nothing pertaining to the $32 billion state-regulated marijuana industry.

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That inaction brought to fruition marijuana industry predictions to MJBizDaily in November “to not expect anything of the lame-duck” Congress this year.

Importance of marijuana banking services

For years, cannabis advocates have begged Congress to provide clear protections for financial institutions that provide banking services to state-regulated marijuana businesses.

While many cannabis businesses have bank

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