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H.R. 7987119th CongressIn committeeLatest action Mar 18, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
HR 7987 would bar federal agencies from penalizing banks, insurers, and others for serving state-licensed cannabis businesses.
60-second read · 4 questions answered below
HR 7987, the CLIMB Act, would prohibit federal agencies from penalizing banks, insurers, accountants, lawyers, landlords, and tech companies simply for doing business with a cannabis company that holds a valid state license. The bill would also create a federal safe harbor in securities law, allowing stock exchanges, brokers, and other financial market participants to list or trade shares of state-licensed cannabis companies without facing liability under the Controlled Substances Act. The bill does not legalize cannabis itself and does not extend any protection to cannabis businesses operating without a valid state license.
State-licensed cannabis companies, banks, insurers, accountants, real estate owners, technology firms, stock exchanges, brokers, and investors are all directly affected by this legislation. Federal agencies currently authorized to penalize businesses that serve cannabis companies would lose that authority under the bill.
Because cannabis remains illegal under federal law despite legalization in many states, businesses that serve legal cannabis operations currently face federal penalties, leading many to turn away that business. Removing that federal threat would change the legal calculus for financial institutions, professional service providers, and public markets deciding whether to work with state-licensed cannabis companies.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Financial Services.