Senate Committee Expands Marijuana Banking Hearing with Additional Witnesses

The U.S. Senate Banking Committee has added new witnesses who will testify at a hearing on bipartisan marijuana banking bill this week. In addition to the top bipartisan sponsors of the Secure and Fair Enforcement (SAFE) Banking Act, an equity-focused cannabis reform activist, a union representative, a cannabis financial services company executive and a leading prohibitionist advocate will also share their perspective on the legislation and underlying financial services issues in the cannabis industry at Thursday’s hearing. Senators on both sides of the aisle have been pushing for urgent action on the standalone SAFE Banking Act, which would protect banks that work with state-legal cannabis businesses from being penalized by federal regulators.