Major Financial Association And 44 State Partners Demand Marijuana Banking Vote In The Senate Before Year’s End

Major Financial Association And 44 State Partners Demand Marijuana Banking Vote In The Senate Before Year’s End
MJ moment

A major national banking association, along with 44 state partners, is asking Senate leadership to bring a House-passed marijuana banking reform bill to a vote on the floor “without further delay.” In a letter sent to Senate Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-KY) on Monday, the Independent Community Bankers of America (ICBA) asked for urgent consideration of the Secure and Fair Enforcement (SAFE) Banking Act, before the end of the year. “The SAFE Banking Act is essential for the ongoing ability of community banks to effectively serve their communities,” the letter says. “The Act would also alleviate the significant threat to public safety posed by cash intensive CRBs effectively being shut out of the banking industry.” ICBA said that the legislation should be advanced during the lame duck session either as a standalone bill or as an amendment to another proposal. ICBA and 44 affiliated state community banking associations called on Senate leaders to take up and pass ICBA-advocated legislation to establish a cannabis banking safe harbor in states where cannabis is legal. #SAFEBankingAct https://t.co/Ydh16rNwtH — Independent Community Bankers of America (@ICBA) November 29, 2022 Schumer has been working to finalize a package of marijuana reform legislation that’s expected to contain the language of the SAFE Banking Act, as well as a separate bipartisan proposal on expunging prior cannabis convictions. Talks on that omnibus bill have been intensifying in recent weeks, with the majority leader discussing the proposal with key bipartisan senators. But time is running thin, and advocates say it’s critical that the Senate act soon given that Republicans will have the majority in the House following this month’s election. “This legislation enjoys strong, bipartisan support, would resolve a conflict between state and federal law, and addresses a critical public safety concern,” ICBA, which…

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Source : Major Financial Association And 44 State Partners Demand Marijuana Banking Vote In The Senate Before Year’s End

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