CLIMB Act

This bill would allow businesses and financial institutions to provide services to cannabis companies without fear of federal penalties, even though cannabis remains illegal under federal law. It prohibits federal agencies from taking adverse actions against anyone who offers financial products, insurance, legal services, or other business assistance to cannabis-related legitimate businesses operating in states where it is legal. Additionally, the bill would permit national stock exchanges to list and trade securities from cannabis companies by creating a legal safe harbor that protects exchanges and market participants from federal prosecution. The law would take effect 180 days after it is signed into legislation.