GOP Congress Member Aims Wants To Remove Cannabis Banking Protections From Spending Bill, Calls For Prohibition To Continue

6 months ago

Rep. Chuck Edwards (R-NC) is seeking to strip cannabis banking protections from the 2025 Financial Services and General Government (FSGG) appropriations bill. During a subcommittee markup session on Wednesday, Edwards voiced strong opposition to section 134, which would safeguard financial institutions working with state-legal cannabis businesses from federal penalties.

Edwards argued that the provision acts as an “affirmative authorization disguised as a limitation” on federal funds, contradicting historical legislative practices. He contended, “Our country has never allowed a federally illegal activity to be banked,” noting that cannabis still remains a Schedule I drug under federal law.

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