CEA Industries Inc. (CEAD)

[pauly3]

A bipartisan amendment is under consideration by Congress that would allow federally-regulated banking institutions to do business with marijuana companies without fear of federal repercussions.

The amendment, brought forth by Florida Republican Matt Gaetz and Florida Democrat Darren Soto, would prohibit federal banking agencies from discouraging or penalizing banks for taking deposits from cannabis-related businesses that abide by state laws and regulations.

The Gaetz and Soto amendment is being proposed as an addition to the Financial Choice Act, which would roll back a lot of the Dodd-Frank regulation President Barack Obama signed in 2010.

Representatives for Gaetz’s and Soto’s offices were not immediately available for comment. The U.S. House of Representatives could vote on the Choice Act as early as Thursday.