As Hemp Lawsuit Nears, Idaho Senator Talks Cannabis

(WASHINGTON, DC) Even though Idaho state law doesn’t distinguish the difference between marijuana and hemp, U.S. Sen. Mike Crapo (ID-R) appears ready to move a bill allowing for banks to finance cannabis operations in the United States. Crapo is chairman of the Senate Banking Committee says he wants to offer a bill due to the challenges faced by businesses that connected to legalized cannabis. This comes however as Idaho has charged a trucker hauling legalized hemp from Oregon to California with marijuana trafficking for hauling the load through the state illegally. Under state law, the trucker faces a minimum five-year jail term in the trial that begins October 2nd. With cannabis now legal in some form in 33 states, the American Bankers Association is calling on lawmakers to pass the SAFE Banking Act, which would allow banks to serve cannabis-related businesses in states where the activity is legal and prohibit federal regulators from taking action against a bank solely because cannabis is involved. The bill received a strong bipartisan vote in the House Financial Services Committee and is expected to be brought to the House floor in the coming weeks.