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Marijuana Banking Bill

All articles tagged with #marijuana banking bill

politics1 year ago

"State Legislatures and Senate Push for Marijuana Banking and Stablecoin Regulation Bills"

The National Conference of State Legislatures is urging Congress to attach the bipartisan marijuana banking bill to an unrelated FAA reauthorization legislation, emphasizing the need for financial services for legal cannabis businesses and the safety risks associated with cash-only transactions. Lawmakers from both parties have expressed optimism about the bill's prospects, with discussions also including the possibility of combining cryptocurrency regulation legislation with the marijuana banking bill. Senate Majority Leader Chuck Schumer has reiterated his intent to pass legislation to safeguard cannabis banking, while bipartisan support for the bill continues to grow.

via Marijuana Moment|
#bipartisan-support#congress#faa-reauthorization
politics1 year ago

"Push for Cannabis Banking Legislation Gains Momentum Amid Bipartisan Support"

Senate Majority Leader Chuck Schumer is circulating a petition to garner support for the marijuana banking bill, emphasizing the need for comprehensive federal cannabis legalization. The Secure and Fair Enforcement Regulation (SAFER) Banking Act, which aims to provide banking services to marijuana businesses, is gaining momentum in Congress. Schumer is urging people to sign the petition and support the bill, highlighting the challenges faced by legal marijuana businesses in accessing basic banking services. Lawmakers are optimistic about the bill's prospects, with negotiations ongoing to reach a final agreement and potential amendments to include provisions on state-legal cannabis expungements and gun rights for cannabis consumers.

via Marijuana Moment|
#cannabis-legalization#chuck-schumer#marijuana-banking-bill
politics2 years ago

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.

via Marijuana Moment|
#bipartisan-legislation#cannabis-industry#marijuana-banking-bill
politics2 years ago

Schumer's Summer Agenda: Marijuana Banking Bill and Busy July Plans

Senate Majority Leader Chuck Schumer has identified passing a marijuana banking bill as a priority during the summer work session, but acknowledges that it will require GOP support to advance. In a letter to colleagues, Schumer outlined the focus on advancing must-pass appropriations and defense legislation, while also working with Republican colleagues on bipartisan bills. The Secure and Fair Enforcement (SAFE) Banking Act, which aims to safeguard cannabis banking, has already received a hearing in the Senate Banking Committee and may be taken up for a vote this month. Schumer did not mention attaching criminal justice provisions like expungements, which he has previously advocated for. The bill has enough Republican support to reach the 60-vote threshold needed for passage in the Senate.

via Marijuana Moment|
#cannabis-reform#chuck-schumer#gop-support
cannabis-industry2 years ago

Coalition Urges Senate to Pass Marijuana Banking Bill for Industry Access to U.S. Financial System

Banking associations representing all 50 U.S. states, as well as various other financial, insurance and union organizations, are calling for Senate committee passage of a marijuana banking bill “as quickly as possible.” The Secure and Fair Enforcement (SAFE) Banking Act would allow banks to handle the proceeds from state-licensed cannabis businesses and the accountants, skilled trades, landlords, law firms, and other service providers they rely upon for legal operations. The inability of the state-licensed cannabis industry to access safe and regulated financial services is a pressing concern for so many of our nation’s communities and the banks that serve them.

via Marijuana Moment|
#american-bankers-association#cannabis-industry#financial-services