The marijuana industry is hoping to make its voice heard at an upcoming Senate committee hearing focused on debanking, with stakeholders sharing stories about their experiences losing financial services simply for working in and around state-legal cannabis markets.
Ahead of the Senate Banking Committee hearing that's scheduled for next Wednesday, February 5, the chair of the panel, Sen. Tim Scott (R-SC), encouraged anyone who's been debanked to contact his staff with details to help inform the debate.
"I'm committed to ensuring Americans who have been debanked have their voices heard, and to prevent chokepoint activities from happening in the future," the chairman said. "Working together, we can ensure bad actors who have exploited their power are held accountable."
Scott didn't specifically address the longstanding issues cannabis companies have faced securing banking services under federal prohibition—and the focus of the upcoming committee meeting seems to center largely on other industries that have alleged politically motivated debanking such as cryptocurrency companies and firearms dealers.
Read more at Marijuana Moment