Pross To Testify Before HFSC On FIs Serving Marijuana-Related Businesses

Pross Rachel

Rachel Pross

WASHINGTON–A credit union representative will be among those testifying before Congress this week at a hearing on providing banking services to marijuana-related businesses.

Rachel Pross, chief risk officer at MAPS Credit Union in Salem, Ore., will testify on behalf of CUNA during the hearing by the House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions.

The hearing, titled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses,” is scheduled to begin at 2 p.m. ET on Wednesday, Feb. 13 in room 2128 of the Rayburn House Office Building.

CUNA, which said it supports credit unions’ ability to serve their members and which has written in support of three pieces of cannabis banking legislation that would clarify the ability of financial institutions to serve legal cannabis-based businesses in states where cannabis is legal, said “the public safety risk continues to grow among credit unions and communities at large due to the lack of access to banking services.”

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Copyright Year: 2019
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