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The Washington Wrap is a weekly recap of financial regulation, news and chatter from around the capital. Send tips and ideas to polo.rocha@spglobal.com, david.hood@spglobal.com and declan.harty@spglobal.com.
In Congress
The U.S. House of Representatives is expected to vote soon on a measure that would provide regulatory relief for financial services companies doing business with cannabis-related companies.
On Sept. 18, co-authors of the bill, Rep. Ed Perlmutter, D-Colo., and Rep. Denny Heck, D-Wash., told S&P Global Market Intelligence that they were whipping votes to push the bill through and show the Senate that the measure can pass in the upper chamber, too.
The co-authors said a strong bipartisan showing may convince Sen. Mike Crapo, R-Idaho and chairman of the Senate Banking Committee, to take up a companion measure in the Senate introduced by Sen. Cory Gardner, R-Colo.
Crapo said Sept. 17 that he may put Gardner's bill to a vote in his committee but that he does not want to "limit" himself to that legislation, meaning he may expand on its provisions.
The chairman also disclosed that his preference would be to pass a bill by the end of the year...