Rachel Pross, chief risk officer at MAPS CU, Salem, Ore., will testify on CUNA’s behalf at a House Financial Services Committee hearing Wednesday. Pross will testify before the House Financial Services subcommittee on consumer protection and financial institutions during a hearing titled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses.”
CUNA supports the ability of credit unions to serve cannabis-based businesses in states where it is legal but does not have a position on legalization or decriminalization of marijuana.
CUNA previously backed three bills that would clarify the ability of financial institutions to serve legal cannabis businesses, and also supported an amendment to a Senate bill that would have included language saying the same.
Pross will testify Feb. 13 before the subcommittee. The hearing is scheduled to begin at 2 p.m. (ET) and will be streamed live on the House Financial Services Committee website.