Connect with us

Legal & Regulation

A Look at Illinois House Bill HB 3953 on Cannabis Banking and Credit Union Act

Denis Mariti

Published

on

A Look at Illinois House Bill HB 3953 on Cannabis Banking and Credit Union Act

Illinois lawmaker Rep. Kamblum Buckner is working to improve access to banking services for marijuana businesses by introducing a new bill, according to Marijuana moment report.

The purpose of the bill is to establish a procedure to license financial institutions so that they may provide cannabis businesses with banking services. In addition, the bill also provides provisions regarding an advisory board, application and licensure, authorizations, deposit insurance, banking services, prohibited practices, and operative conditions.

According to a report by the Hyde Park Herald, Buckner is also interested in developing a state charter bank bill that would allow private banks or credit unions to apply for a charter of limited purpose so that they may provide marijuana businesses with bank accounts. er

Denis is one of the most experienced researchers for reviews we have with years of experience in writing about CBD products. He will be one of the most viewed authors due to his own thrill in sharing what he is learning about cannabidiol and supplement use. With a goal of providing clarity within the budding CBD oil industry, Denis will be spending much of the year going through a catalogue of cannabis oil companies in the near future.

Continue Reading
Ultimate CBD Guide
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ultimate-cbd-products-company-guidepopular-cbd-health-benefits best-cannabidiol-guide-resources hemp guide

CBD News Updates

TimesofCBD is the most active daily CBD news publication featuring the latest cannabis industry stories and marijuana market trends. As the leader in CBD-centric content curation, we invite all readers to come for the headlines and stay for the insights. Quality is the top priority when presenting user guides, analyzing product reviews and reporting fact-checked news announcements. All information is for educational purposes only.

Got news? Email contact@timesofcbd.com