Oregon Set to Become First State to Legalize Marijuana Business Banking—Marijuana Politics
The Oregon House overwhelmingly passed House Bill 4094 that protects Oregon banks who provide financial services to state-regulated marijuana businesses. The bill initially passed the House on February 16, but it was amended in the Senate when it passed there 18-6 on February 26th, so today the House voted 55-4 to concur with the Senate Amendments.
The bill, championed by Oregon State Treasurer candidate Tobias Read, now moves onto Governor Kate Brown, who is expected to sign the bill, making Oregon the first state to remove all criminal penalties for banks and credit unions that work with cannabis businesses operating within state law. More work needs to be done at the federal level, but Oregon’s progress will only help the national debate.