Finance, investment and tax-related legislation

The 2020 election is shaping up to be a key yardstick for legislation expanding cannabis firms’ financial services access.

The Senate is also expected to pass a budget deal that will increase spending and suspend the debt ceiling.

Despite the Senate Banking Committee’s willingness to discuss the issue, Republican support for legislation is still in question.

Lawmakers will hear from a credit union executive on cannabis banking while also considering issues such as the use of alternative data in underwriting.

Lawmakers from both parties strongly criticized Libra this week, but largely steered clear of proposals to stop it.

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

Lawmakers circulated a bill just ahead of hearings on Facebook’s Libra cryptocurrency that would prohibit companies with over $25 billion in annual revenue from launching a digital financial asset.

Lawmakers have just three weeks before their August recess to make a host of decisions on issues related to credit unions.

Credit unions have a busy week ahead of them in Washington, including more than half a dozen bills that could impact the industry.

The attorney general told lawmakers that exempting states that have legalized marijuana from the federal ban is better than the current system where state and federal laws are in conflict.