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July 24, 2015

Senate eases rules for pot bankers

WASHINGTON (AP) — A Senate panel voted Thursday to make it easier for businesses that legally produce and sell marijuana to do business with banks and other financial services providers.

The Senate Appropriations Committee approved, by a 16-14 vote, an amendment that would effectively ease laws making it officially illegal for banks to handle money from marijuana vendors. The laws have resulted in a situation in which many marijuana vendors have typically had to use cash to conduct their business.


 
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