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Articles by Tom Howell Jr.

In this June 27, 2017 file photo, the proprietor of a medical marijuana dispensary prepares his monthly tax payment, over $40,000 in cash, at his Los Angeles store.  A proposal in Congress to ease the federal ban on marijuana could encourage more banks to do business with cannabis companies, but it appears to fall short of a cure-all for an industry that must operate mainly as a cash business in a credit card world.   (AP Photo/Jae C. Hong, File)

Senators back bill to connect cannabis industry with banking services

Senators in both parties championed a bill Thursday that would give the cannabis industry access to banking without fear of penalties or high fees, saying financial rules must adjust with marijuana laws so that businesses are treated equally and workers are no longer paid in cash.

May 11, 2023