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Marijuana Banking Advocate Perlmutter to Chair Key House Subcommittee

Perlmutter has long pushed for legislation to give FIs regulatory safe harbor if they provide services to marijuana-related businesses.

House Financial Services Committee sign Source: Shutterstock.

Rep. Ed Perlmutter (D-Colo.), the lead House sponsor of marijuana banking legislation, will chair the Financial Services Committee’s Consumer Protection and Financial Institutions Subcommittee, Chairwoman Maxine Waters (D-Calif.) announced Tuesday.

Perlmutter is an attorney who practiced bankruptcy law before being elected to the House in 2006. He is a member of the New Democrat Coalition, a group of House moderate Democrats. He was a member of the Congressional Federal Credit Union in 2018, according to the Center for Responsive Politics, which analyzed his 2018 financial disclosure report.

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