Members of the cannabis industry are intensifying their push to get a banking reform bill passed ahead of the November midterm elections. The business leaders believe the Senate’s current makeup presents a greater chance of getting the Safe Banking Act approved. They’ve expressed concern that passage of the Safe Banking Act could lead to some in Congress viewing cannabis reform as a completed task. Industry members are fearful that a potential GOP takeover in Congress would present a major hurdle in getting cannabis banking reform approved and signed by President Biden after the midterm elections. As a standalone bill, the Safe Banking Act passed by a vote of 321-101 in April of 2021.
Members of the cannabis industry are intensifying their push to get a banking reform bill passed ahead of the November midterm elections.
Industry members are fearful that a potential GOP takeover in Congress would present a major hurdle in getting cannabis banking reform approved and signed by President Biden after the midterm elections. Recently, over 20 cannabis business leaders collectively lobbied federal lawmakers to pass the SAFE Banking Act, a bill that would allow banks to work with...
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