US: White House defers to congress on cannabis banking reform

The White House says that Congress is leading the charge for cannabis banking reform—and the Biden administration does not currently have any plans to announce executive action on the issue.

At a press briefing last week, White House Press Secretary Karine Jean-Pierre was asked whether President Joe Biden intends to administratively resolve the banking issue for state-legal cannabis businesses, many of which operate on a largely cash-only basis and have been targets of crime under federal prohibition.

“I don’t have any new policy announcements to make from here,” Jean-Pierre said.

“As you know, this is something that Congress is working on,” the press secretary said in response to the question from’s Jonathan Salant. “We understand that there’s interest in legislation and action—but I would refer you to Congress because, again, this is again what they’re working on.”


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