National Credit Union Administration (NCUA) Critcizes Congress On Their Tardiness On Reforming Cannabis Laws..”The bottom line is this: Legalization in some form is going to happen, and the abdication of responsibility to address these issues in Washington is simply ludicrous.”

CANNANNEW REPORT

Marijuana Moment reports A board member and former chairman of the federal National Credit Union Administration (NCUA) is sharply criticizing Congress for failing to reform marijuana laws, and he announced on Thursday that he will be taking steps to push lawmakers to enact policy changes to help financial institutions and stakeholders caught in the federal-state cannabis conundrum. NCUA’s Rodney Hood said at the PBC Conference that he’s “concerned that the legal and regulatory infrastructure surrounding the cannabis industry is not evolving quickly enough,” and congressional inaction is largely to blame. He also said that he feels legalization at the federal level is an inevitability. To help fill the policy gap, the regulator is calling for the creation of an interagency working group of federal financial regulatory agencies to develop a “principles-based approach to cannabis banking” and “deliver a preliminary regulatory framework that we can share with other regulators and members of Congress who share our concern about addressing these problems.” “Let me be clear about where I stand,” he said, according to his remarks as prepared for delivery that were obtained by Marijuana Moment. “It is time for federal action to clarify and harmonize the laws and regulations surrounding the state-legal cannabis industry and marijuana-related businesses, so that this industry can take part in the legitimate financial services industry.” Read full article Top Federal Financial Regulator Slams Congress Over Marijuana Inaction And Calls For Interagency Banking Workgroup Here’s his full presentation September 2021 NCUA Board Member Rodney E. Hood Remarks at the PBC Conference 2021: Payments, Banking, Compliance in the Cannabis Industry Board Member Rodney E. Hood speaks at the PBC Conference in Washington, D.C. on September 9, 2021. As Prepared for Delivery on September 9, 2021 Thank you very much, and it’s a pleasure to join you today. I…

Excerpt only …
READ MORE BELOW
Source : National Credit Union Administration (NCUA) Critcizes Congress On Their Tardiness On Reforming Cannabis Laws..”The bottom line is this: Legalization in some form is going to happen, and the abdication of responsibility to address these issues in Washington is simply ludicrous.”

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.