Legislation allowing banks to provide credit cards and checking accounts to legal cannabis businesses has been stalled in the Senate. But members of Congress are looking to add its provisions to the next coronavirus stimulus bill, NJ Cannabis Insider has learned.
The argument is that many patients who use legal marijuana are among the most vulnerable to contracting COVID-19, and forcing them to deal in cash also puts employees at risk.
“Everything has to be capable of mitigating the spread of the coronavirus and mitigating the economic harm of the pandemic,” said Justin Strekal, political director for NORML, the National Organization for the Reform of Marijuana Laws.
The effort is taking place as supporters of ending the federal ban on marijuana seek to make legal cannabis businesses eligible for Small Business Administration loans.
