HOUSE OF REPRESENTATIVES
COMMITTEE ON FINANCIAL SERVICES
REP. DIANA FARRINGTON
CHAIR
COMMITTEE MEETING MINUTES
Wednesday, May 22, 2019
12:00 PM
Room 307, House Office Building
The House Standing Committee on Financial Services was called to order by the Chair
Farrington.
The Chair requested attendance be called:
Present: Reps. Farrington, Schroeder, Sheppard, Bellino, Berman, Wakeman, Gay-Dagnogo,
Wittenberg, Clemente, Stone, Whitsett.
Absent/Excused: None.
Representative Sheppard moved to adopt the meeting minutes from May 8, 2019. There being no
objection, the motion prevailed by unanimous consent.
The Chair laid HR 101 before the committee:
HR 101
(Rep. Rabhi)
A resolution to urge the U.S. Congress to
enact legislation preventing federal regulators from
sanctioning depository institutions for providing financial
services to legitimate marijuana-related businesses in states
where marijuana has been legalized.
Representative Rabhi testified in support of the resolution.
Patricia Herndon, representing the Michigan Bankers Association, and Kieran Marion,
representing the Michigan Credit Union League, testified in support of the resolution. Questions
and discussion followed.
Josh Hovey, representing the Michigan Cannabis Industry Association, testified in support of the
resolution.
The following people submitted a card in support of HR 0101, but did not wish to speak:
Kelli Hykes, representing the Weedmaps.
David Knezek, representing the Attorney General, Dana Nessel.
Representative Rabhi returned to answer further questions pertaining to the resolution.
Representative Gay-Dagnogo moved to report out HR 101 with recommendation. The motion
prevailed 11-0-0.
FAVORABLE ROLL CALL
Yeas: Reps. Farrington, Schroeder, Sheppard, Bellino, Berman, Wakeman, Gay-Dagnogo,
Wittenberg, Clemente, Stone, Whitsett.
Nays: None.
Pass: None.
There being no further business before the committee, Rep. Diana Farrington adjourned the
meeting at 12:21 PM.
Representative Diana Farrington, Chair
Sondra Gordon
Committee Clerk
sgordon@house.mi.gov