Louisiana Legislature Forges Ahead On Cannabis Banking

Not a headline we’d have predicted for 2020.  Marijuana Moment reports

Louisiana lawmakers advanced three marijuana reform bills on Wednesday, and that includes legislation that would dramatically expand the state’s medical cannabis program and offer protections for banks that service marijuana businesses.

House-passed legislation to allow physicians to recommend medical cannabis to patients for any debilitating condition that they deem fit was approved by the Senate Health and Welfare Committee in a 5-1 vote. Under current law there are only 14 conditions that qualify patients for marijuana. The bill now heads to the full Senate.

Another bill introduced by Rep. Edmond Jordan (D) to protect banks and credit unions that service cannabis businesses from being penalized by state regulators also advanced on Wednesday, clearing the full House of Representatives in a 74-20 vote.

Beyond prohibiting such penalization solely due to marijuana-related banking activity, the legislation would further prevent state regulators from encouraging banks to deny financial services or cancel accounts for businesses “solely because the account holder is a cannabis-related legitimate business or service provider, or is an employee, owner, or operator of a cannabis-related legitimate business or service provider.”

Read MM’s full report at

Louisiana Lawmakers Advance Three Marijuana Reform Bills In One Day, Including Cannabis Banking


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