West Virginia Governor Signs Marijuana Banking Measure Into Law

banking marijuana cannabis bank

Republican Gov. Jim Justice has signed legislation into law facilitating banking access to licensed medical cannabis businesses. The law takes immediate effect.

House Bill 2538states, “The Commissioner of Financial Institutions shall not prohibit, penalize, incentivize, or otherwise impair a financial institution from providing services to a person or entity involved in a medical cannabis-related business functioning under the Medical Cannabis Act.” West Virginia legalized medical cannabis access in 2016, but the program is yet to be operational.

Federal law discourages banks and other financial institutions from engaging in relationships with marijuana-related businesses.

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Johnny Green
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Johnny Green is a cannabis activist from Oregon. Johnny has a bachelor's degree in public policy, and believes that the message should always be more important than the messenger. #LegalizeIt #FreeThePlant