![](\"https:\/\/cannabiscultivatornews.com\/home\/wp-content\/uploads\/2023\/06\/MM_Bill_Tracker_V5_blank-5.jpg\"){kind=tracking}
<\/p>\n <\/p>\n
Senate Banking Committee Chairman Sherrod Brown (D-OH) says that he wants to hold a vote on a bipartisan marijuana banking bill, along with other legislation, \u201cin the next two or three weeks.\u201d He added, however, that the exact scheduling is contingent on negotiations with his panel\u2019s Republican ranking member.<\/p>\n
\u201cWe\u2019re looking at markup on the fentanyl issue, the executive compensation issue and the Safe Banking Act issue and we want to do all that in the next two or three weeks,\u201d Brown told<\/a> Bloomberg Law on Tuesday.<\/p>\n In a subsequent interview with Politico on Wednesday, the chairman clarified<\/a> that his panel will \u201clikely\u201d first vote on the two unrelated bills next week as he works to reach a deal on the cannabis legislation with Sen. Tim Scott (R-SC).<\/p>\n Asked whether he could provide a specific timeline for a markup on the Secure and Fair Enforcement (SAFE) Banking Act, he said, \u201cno,\u201d and that \u201cit depends\u201d because \u201cthis is all in motion negotiating with\u201d Scott.<\/p>\n After next week\u2019s votes on the unrelated bills, \u201csometime in the near future will be SAFE banking, we hope,\u201d Brown said.<\/p>\n The committee held an initial hearing on the SAFE Banking Act<\/a>, sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), last month.<\/p>\n As its currently drafted, the measure would protect banks and credit unions, as well as depository institutions, from being penalized by federal regulators for working with state-licensed cannabis businesses.<\/p>\n Senate Majority Leader Chuck Schumer (D-NY) and others have discussed plans to amend the legislation on the floor to adopt \u201ccritical\u201d criminal justice provisions<\/a> such as expungements for prior marijuana convictions, calling\u00a0broader effort to repair the harms of the drug war a \u201cmoral responsibility\u201d for Congress<\/a>.<\/p>\n It\u2019s unclear if members will move to make any revisions to the measure in committee at the markup, whenever that might be, but at least one Democratic senator on the panel has previewed changes he would like to make to the main banking provisions.<\/p>\n Sen. Jack Reed (D-RI) and some consumer groups have raised concerns that Section 10 of the bill could inadvertently limit the ability of regulators to take action<\/a> against people exploiting banking services.<\/p>\n Brown himself previously said that he worried banking representatives were trying to\u00a0use the legislation to \u201cweaken bank rules\u201d<\/a> and \u201cundermine\u201d regulations.<\/p>\n \u2014 Advocates, stakeholders and certain lawmakers have also floated other changes that they\u2019d like to see incorporated into the cannabis bill such as expanding protections to free up marijuana industry access to all forms of financial services, including representation on major U.S. stock exchanges<\/a>.<\/p>\n That request has\u00a0faced some criticism from other advocates who say that would be an inappropriate move to help businesses while efforts to legalize marijuana stall in Congress.<\/p>\n A major cannabis lobbying firm apologized last month after sending a letter to Senate Banking Committee leadership concerning the banking bill that contained \u201cinappropriate\u201d references<\/a> to investments from China in a \u201cmisguided attempt\u201d to push for amendments expanding the legislation.<\/p>\n Sen. Jacky Rosen (D-NV) also recently said that\u00a0she wanted the SAFE Banking Act to pass with an amendment<\/a>\u00a0allowing cannabis businesses to access federal Small Business Administration (SBA) services.<\/p>\n In April, Schumer said that he was \u201cdisappointed\u201d that a so-called SAFE Plus package of cannabis reform legislation didn\u2019t advance last year, saying \u201cwe came close,\u201d but \u201cwe ran into opposition in the last minute.\u201d He said\u00a0lawmakers will continue to \u201cwork in a bipartisan way\u201d<\/a>\u00a0to get the job done.<\/p>\n The majority leader has been\u00a0holding meetings with Democratic<\/a>\u00a0and Republican members<\/a>\u00a0in the early months of the new Congress to discuss cannabis reform proposals that might have bipartisan buy-in this year.<\/p>\n Sen. Cory Booker (D-NJ) said recently that lawmakers are\u00a0working to \u201cresurrect\u201d the cannabis reform package<\/a>, acknowledging that failure to advance a banking fix for the industry \u201cliterally means that hundreds of businesses go out of business.<\/p>\n Rep. Earl Blumenauer (D-OR), who is a lead sponsor of the House version of the SAFE Banking Act, said at a recent press briefing that thinks it\u2019s important that advocates and lawmakers align on any incremental proposals to end the drug war,\u00a0warning against an \u201call-or-nothing\u201d mentality<\/a>.<\/p>\n The American Bankers Association (ABA) also\u00a0recently renewed its call for the passage<\/a>\u00a0of the legislation. And all 50 of its state chapters did the same, as did insurance and union organizations,\u00a0in recent letters to congressional leadership<\/a>.<\/p>\n This story was updated to include additional context and quotes from Brown.<\/em><\/p>\n Rhode Island Lawmakers Approve Bill To Legalize Psilocybin And Prepare For Regulated Therapeutic Access<\/a><\/p>\n<\/blockquote>\n\n Photo courtesy of Mike Latimer.<\/em><\/p>\n The post Key Senate Committee Chair Hopes To Hold Marijuana Banking Vote In \u2018Next Two Or Three Weeks\u2019 Following Negotiation With GOP<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
Senate Banking Committee Chairman Sherrod Brown (D-OH) says that he wants to hold a vote on a bipartisan marijuana banking bill, along with other legislation, \u201cin the next two or three weeks.\u201d He added, however, that the exact scheduling is contingent on negotiations with his panel\u2019s Republican ranking member. \u201cWe\u2019reContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":65717,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/65716"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=65716"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/65716\/revisions"}],"predecessor-version":[{"id":65718,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/65716\/revisions\/65718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/65717"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=65716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=65716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=65716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMarijuana Moment is tracking more than 1,000 cannabis, psychedelics and drug policy bills<\/a> in state legislatures and Congress this year. Patreon supporters<\/a> pledging at least $25\/month get access to our interactive maps, charts and hearing calendar so they don\u2019t miss any developments.<\/strong>
\n![\"\"](\"https:\/\/cannabiscultivatornews.com\/home\/wp-content\/uploads\/2023\/06\/MM_Bill_Tracker_V5_blank-4.jpg\"){kind=tracking}
<\/a>
\nLearn more about our marijuana bill tracker<\/a> and become a supporter on Patreon<\/a> to get access.
\n\u2014<\/strong><\/strong><\/p>\n\n
\n
\nRead More: Key Senate Committee Chair Hopes To Hold Marijuana Banking Vote In \u2018Next Two Or Three Weeks\u2019 Following Negotiation With GOP<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"