Banking Update

Banking Update

There is growing optimism that our industry will soon have a solution to one of our major impediments:


The “State’s Rights” initiative has recently been a major topic of Congressional hearings. One of the major Lobbyists for the Cannabis industry is the Cannabis Trade Federation. The follow is its summary of progress as reported by Steve Fox of CTF in an August 29 eMail.

There is no doubt support for respecting state cannabis laws is growing in D.C.

We have heard it from administration officials during public hearings, and we have seen it in our meetings with congressional members and staffers as we lobby for the STATES Act, which would exempt state-legal cannabis from the federal Controlled Substances Act. But we were recently taken aback to see just how widespread support has grown — even the drug czar is now on board.

Earlier this month, Kayla Sullivan with Fox 59 in Indiana reportedly asked Jim Carroll, director of the White House Office of National Drug Control Policy (aka the drug czar), whether he thinks states should be able to legalize marijuana without federal interference.

After the interview, she tweeted his response: “He believes it should be left up to the state.”

This is a state decision, and we would like to see additional research done so that these decisions being made at a state level are being made in a manner that is fully informed.”

HighBridge is a Proud Member of the Cannabis Trade Federation