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Sunday, January 29, 2023

Cannabis Stocks Stuck With Toxic Components – The Wall Street Journal

U.S. marijuana companies lack access normal financial services, such as checking accounts and commercial mortgages.

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Photo: Fabrice Coffrini/Agence France-Presse/Getty Images

U.S. cannabis companies may be starting to wonder if they will ever catch a break in Washington.

Democrats tried and failed to shoehorn cannabis banking reforms into this month’s $1.65 trillion omnibus spending bill before the new Congress starts on Jan. 3. Had the SAFE Banking Act passed, U.S. marijuana companies would have been able to access normal financial services like checking accounts and commercial mortgages.

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