Might finally get a cannabis banking bill thru
Unless someone torpedos it. Still waiting for Texas to get off its red ass
Senate Committee Passes Cannabis Banking Bill
Iris Dorbian, Contributor
I cover the business of cannabis.
After a long and arduous wait, it looks like the SAFER Banking Act, the renamed version of the bipartisan law that would allow banks to work with cannabis businesses without penalties, is finally showing some traction after languishing in Congress. Today, the Senate Committee on Banking, Housing and Urban Affairs held a “markup” on the legislation and as expected, the bill passed decisively.
Although members of the House did overwhelmingly vote for the SAFE Banking Act, the bill’s earlier version, several times before, today’s vote marks the first time that Senate members have voted in favor of the measure.
To say this could be a milestone victory in the history of the sector is to make a gross understatement. The passage of this bill will ensure that cannabis businesses in legal states will not be forced to operate as cash-only enterprises, making them vulnerable to theft and various criminal activities and that they will be able to open accounts with mainstream banks.
https://www.forbes.com/sites/irisdorbian/2023/09/27/senate-committee-passes-cannabis-banking-bill/
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