Senate Committee Set to Vote on Marijuana Banking Bill in September

The Senate Banking Committee is expected to vote on the bipartisan marijuana banking bill, known as the Secure and Fair Enforcement (SAFE) Banking Act, during the last week of September. The tentative date for the committee vote is September 27, pending official announcement. The bill may undergo amendments related to broad banking regulations, Small Business Administration (SBA) access, and stock uplisting for the cannabis industry. Senate Majority Leader Chuck Schumer has expressed support for the bill and has pushed for the inclusion of incentives for state-level cannabis expungements. The SAFE Banking Act currently has 42 cosponsors, including eight Republicans and three independents.