{"id":68866,"date":"2023-09-27T07:29:00","date_gmt":"2023-09-27T15:29:00","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2023\/09\/27\/schumer-pledges-to-bring-committee-passed-marijuana-banking-bill-to-floor-very-soon-as-gop-senators-vow-to-kill-it\/"},"modified":"2023-09-27T19:46:24","modified_gmt":"2023-09-28T03:46:24","slug":"schumer-pledges-to-bring-committee-passed-marijuana-banking-bill-to-floor-very-soon-as-gop-senators-vow-to-kill-it","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2023\/09\/27\/schumer-pledges-to-bring-committee-passed-marijuana-banking-bill-to-floor-very-soon-as-gop-senators-vow-to-kill-it\/","title":{"rendered":"Schumer Pledges To Bring Committee-Passed Marijuana Banking BIll To Floor \u2018Very Soon\u2019 As GOP Senators Vow To Kill It"},"content":{"rendered":"<p><img loading=\"lazy\" src=\"https:\/\/cannabiscultivatornews.com\/home\/wp-content\/uploads\/2023\/09\/1f4b0-1.png\" width=\"72\" height=\"72\"> <\/p>\n<p>Lawmakers, advocates and stakeholders across the spectrum are reacting to Wednesday\u2019s <a href=\"https:\/\/www.marijuanamoment.net\/watch-live-a-u-s-senate-committee-is-voting-on-a-marijuana-banking-bill\/\" target=\"_blank\" rel=\"noopener\">committee passage of a bipartisan marijuana banking bill<\/a>\u2014with Senate Majority Leader Chuck Schumer (D-NY) pledging to bring it to the floor \u201cvery soon\u201d and a group of four GOP senators vowing to kill the legislation.<\/p>\n<p>Just before the Senate Banking Committee approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act, Schumer committed to bring the bill \u201cto the floor for a vote as quickly as possible.\u201d<\/p>\n<p>\u201cOur SAFER Banking Act will connect cannabis businesses, especially ones in minority and underserved communities, to find to traditional financial resources like bank accounts and small business loans, creating a safer and more transparent environment for the industry to grow,\u201d he said. \u201cNow is the time to get it done.\u201d<\/p>\n<div style=\"max-width: 1024px\">\n<div style=\"width: 100%;height: 0;padding-bottom: 56.25%;padding-top: 60px\" \/>\n<\/div>\n<p>On the eve of the vote, however, Sen. Pete Ricketts (R-NE) led a letter to leadership that argued the reform would result in the cannabis industry producing higher potency products that would be harmful to youth and compromise \u201cthe integrity of the United States banking system.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The SAFER Banking Act would increase <img src=\"https:\/\/cannabiscultivatornews.com\/home\/wp-content\/uploads\/2023\/09\/1f4b0.png\" alt=\"&#x1F4B0;\" class=\"wp-smiley\" style=\"height: 1em;max-height: 1em\" \/>for higher THC potency marijuana products. It\u2019s NOT safe. Joined w\/ <a href=\"https:\/\/twitter.com\/JohnCornyn?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@JohnCornyn<\/a>, <a href=\"https:\/\/twitter.com\/SenTedBuddNC?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@SenTedBuddNC<\/a> &amp; <a href=\"https:\/\/twitter.com\/SenatorLankford?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@SenatorLankford<\/a> to tell Senate leaders we&#8217;ll oppose any package they try to sneak it into. <a href=\"https:\/\/t.co\/yKX5yHfAaU\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/t.co\/yKX5yHfAaU<\/a><\/p>\n<p>\u2014 Senator Pete Ricketts (@SenatorRicketts) <a href=\"https:\/\/twitter.com\/SenatorRicketts\/status\/1706813019328479490?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 26, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>The Republican lawmakers wrote that the bill, which now heads to the floor, \u201cwould do nothing to address the public safety threat inherently posed by the existence of marijuana dispensaries.\u201d<\/p>\n<p>\u201cThe SAFER Banking Act is sold as an easy banking fix. In reality, the legislation is fatally flawed and its consequences are complex and sweeping,\u201d the senators wrote. \u201cWe will remain opposed to liberalizing drug laws and will fight the SAFER Banking Act to protect our youth from dangerous policies that would result in increased promotion of marijuana use.\u201d<\/p>\n<p>The <a href=\"https:\/\/www.ricketts.senate.gov\/press-releases\/ricketts-leads-opposition-to-marijuana-banking-bill-that-facilitates-money-laundering-for-drug-cartels\/\" target=\"_blank\" rel=\"noopener\">letter<\/a>\u2014which was also signed by Sens. John Cornyn (R-TX), Ted Budd (R-NC) and James Lankford (R-OK)\u2014further calls for Justice Department testimony on the legislation before it advances any further.<\/p>\n<p>Sen. Tim Scott (R-SC), ranking member of the Banking Committee and a 2024 GOP presidential candidate, voted \u201cno\u201d by proxy while he was in California ahead of a primary debate on Wednesday.<\/p>\n<p>A spokesperson for his office <a href=\"https:\/\/www.politico.com\/newsletters\/morning-money\/2023\/09\/27\/elizabeth-warrens-new-target-on-climate-00118307\" target=\"_blank\" rel=\"noopener\">told<\/a> Politico that the congressman is \u201cconcerned that allowing the banking of a federally illegal product while not doing enough to prevent the de-banking of legal industries like firearms manufacturers and energy producers sends the wrong message to the American people.\u201d<\/p>\n<p>A Democratic member of the Banking Committee, Sen. Raphael Warnock (D-GA) also stands opposed to the legislation as drafted, and he sharply protested its passage without amendments to address the harms of the drug war and ensure the legislation does not inadvertently exacerbate racial and financial disparities.<\/p>\n<p>\u201cThis bill will make life safer for bankers for businesses and financial institutions, some of whom have been profiting from the cannabis industry illegally for years\u2014which is ironic given many of the regular folks who illegally sold or used cannabis are sitting in jail cells right now,\u201d the senator said.<\/p>\n<p>\u201cLet me be very clear: I\u2019m not opposed to easing or undoing federal restrictions around cannabis. And I would support all of the provisions and reforms in this legislation if paired with broader cannabis reforms that substantively addressed the issue of restorative justice,\u201d he said. \u201cThis bill does not do that.\u201d<\/p>\n<p>After two of Warnock\u2019s proposed amendment were rejected by the panel, he defiantly challenged the ruling of a chairman on one of them that was deemed to be in violation of committee rules and then took the unusual step of voting against a standard procedural motion to allow staff to make technical and conforming amendments to the bill.<\/p>\n<p>The senators\u2019 opposition comes as 10 more Democratic senators joined the list of cosponsors on the revised SAFER Banking Act that was introduced last week, raising the total to 22\u2014nearly one-fourth of the Senate. By and large, lawmakers across the aisle have applauded the bill\u2019s passage, even if some are pushing for additional changes.<\/p>\n<p>Sen. Jeff Merkley (D-OR), the lead Democratic sponsor of the bill, spoke at the committee after the vote on Wednesday, congratulating the chairman for his work \u201con a complicated topic that doesn\u2019t seem like it should be so complicated.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today is the day! <a href=\"https:\/\/twitter.com\/SenateBanking?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@SenateBanking<\/a> is voting on the SAFER Banking Act\u2014a huge step toward finally passing this bill and making sure all legal cannabis businesses can access the standard financial services they need to keep their employees, businesses, and communities safe.<\/p>\n<p>\u2014 Senator Jeff Merkley (@SenJeffMerkley) <a href=\"https:\/\/twitter.com\/SenJeffMerkley\/status\/1707024691666325999?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>He touted the measure\u2019s various provisions and said he would like to see it amended on the floor to incorporate legislation to facilitate cannabis expungements and protect gun rights for marijuana consumers, as Senate Majority Leader Chuck Schumer (D-NY) has pledged to do.<\/p>\n<p>Reps. Earl Blumenauer (D-OR) and Dave Joyce (R-OH), co-chairs of the Congressional Cannabis Caucus and lead sponsors of a previously filed House companion version, <a href=\"https:\/\/blumenauer.house.gov\/media-center\/press-releases\/blumenauer-joyce-praise-committee-passage-of-safer-banking-act\" target=\"_blank\" rel=\"noopener\">said<\/a> in a joint statement on Wednesday that the \u201clegislation will save lives and livelihoods.\u201d<\/p>\n<p>\u201cThe overwhelming majority of Americans live in a state where cannabis is legal in some form,\u201d they said. \u201cIt is common sense and an urgent matter of public safety that these legitimate cannabis businesses have access to standard banking services. We applaud the Senate for holding today\u2019s committee vote.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/SenateBanking?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@SenateBanking<\/a> Committee has passed our SAFER Banking Act\u2014a huge step to help cannabis businesses operate more safely and efficiently.<\/p>\n<p>I&#8217;ve long advocated to expunge records for cannabis offenses, and I\u2019m working to include provisions like HOPE and GRAM.<\/p>\n<p>Now is the time.<\/p>\n<p>\u2014 Chuck Schumer (@SenSchumer) <a href=\"https:\/\/twitter.com\/SenSchumer\/status\/1707078770849415406?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>Sen. Ron Wyden (D-OR) said in a statement on Wednesday that the Senate is \u201cfinally on its way to making sure that small cannabis businesses can finally get access to banking services just like any other law-abiding businesses\u2014no more wheelbarrows full of cash.\u201d<\/p>\n<p>\u201cThe Senate has got to get this important legislation across the finish line for the sake of public safety, for equity, and so that small businesses in my state\u2014and now almost every state\u2014get the chance to grow and compete,\u201d he <a href=\"https:\/\/www.wyden.senate.gov\/news\/press-releases\/wyden-statement-on-safer-banking-act\" target=\"_blank\" rel=\"noopener\">said<\/a>.<\/p>\n<p>The bill that cleared committee was slightly revised during the markup to make mostly technical changes, but lawmakers say they will continue to amend it, including as it concerns provisions related to broader banking regulations that Republicans hope to use to prevent discriminatory enforcement against industries like the firearms trade.<\/p>\n<p>Sen. Cynthia Lummis (R-WY)\u2014who along with SAFER Banking\u2019s GOP lead sponsor Sen. Steve Daines (R-MT) introduced a bill last week to prevent federal marijuana rescheduling without congressional approval\u2014<a href=\"https:\/\/punchbowl.news\/article\/senate-banking-committee-disagreement-over-section-10\/\" target=\"_blank\" rel=\"noopener\">told<\/a> Punchbowl on Tuesday that the banking measure is \u201cstill under negotiation,\u201d and she anticipates \u201cthe negotiations will continue\u201d after the vote.<\/p>\n<p>Sen. Kyrsten Sinema (I-AZ), who helped lead bipartisan negotiations on the revised bill as a member of the committee, <a href=\"https:\/\/www.sinema.senate.gov\/breaking-senate-banking-committee-approves-sinemas-safer-banking-act-with-bipartisan-support\/\" target=\"_blank\" rel=\"noopener\">said<\/a> in a statement that the SAFER Banking Act \u201cmakes our communities safer and economically stronger\u2014and it\u2019s moving forward with bipartisan support.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Great news, AZ \u2013 our bipartisan bill ensuring legal cannabis businesses have access to banking and insurance services is moving forward in the Senate. Looking forward to earning even more bipartisan support to pass our bill into law.<a href=\"https:\/\/t.co\/XSuSSE65Ki\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/t.co\/XSuSSE65Ki<\/a><\/p>\n<p>\u2014 Kyrsten Sinema (@SenatorSinema) <a href=\"https:\/\/twitter.com\/SenatorSinema\/status\/1707057508458934358?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>Sen. Catherine Cortez Masto (D-NV), a Banking Committee member, said Wednesday\u2019s vote is a \u201chistoric step forward that will help keep Nevadans safe and allow cannabis business owners who\u2019ve created good-paying jobs across our state to access critical banking services.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: We just passed the SAFER Banking Act out of <a href=\"https:\/\/twitter.com\/SenateBanking?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@SenateBanking<\/a>.<\/p>\n<p>Today\u2019s vote is a historic step forward that will help keep Nevadans safe and allow cannabis business owners who&#8217;ve created good-paying jobs across our state to access critical banking services. <a href=\"https:\/\/t.co\/YEuua8h2qc\" target=\"_blank\" rel=\"nofollow noopener\">pic.twitter.com\/YEuua8h2qc<\/a><\/p>\n<p>\u2014 Senator Cortez Masto (@SenCortezMasto) <a href=\"https:\/\/twitter.com\/SenCortezMasto\/status\/1707047033620635825?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>Meanwhile, the Drug Policy Alliance (DPA), Cannabis Regulators of Color Coalition (CRCC) and Parabola Center sent a letter to committee leaders on Wednesday, urging further revisions to ensure the bill is \u201cequity-centered, justice-oriented and designed to promote fairness and designed with the intention of addressing past inequities and preventing future inequities.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We joined <a href=\"https:\/\/twitter.com\/DrugPolicyOrg?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@DrugPolicyOrg<\/a>  and <a href=\"https:\/\/twitter.com\/crc_coalition?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@CRC_Coalition<\/a> to continue to urge reforms to SAFE(r) so the most harmed communities aren&#8217;t systematically denied access to financial services. We remain neutral on the bill and hope to see further improvements.<\/p>\n<p>Our letter: <a href=\"https:\/\/t.co\/ixERI6XXWL\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/t.co\/ixERI6XXWL<\/a><\/p>\n<p>\u2014 Parabola Center (@ParabolaCenter) <a href=\"https:\/\/twitter.com\/ParabolaCenter\/status\/1707046443008102477?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>\u201cBy acknowledging the progress we\u2019ve made and clearly identifying issues that remain unaddressed, we hope to continue to work with Congress and other stakeholders to ensure equity remains the center of marijuana policy reform and thank the ongoing efforts of advocacy organizations and policymakers to ensure that marijuana banking reform is fair,\u201d the groups <a href=\"https:\/\/www.parabolacenter.com\/img\/dpa_crcc_parabola-center-safer-.pdf\" target=\"_blank\" rel=\"noopener\">wrote<\/a>.<\/p>\n<p><strong>Here\u2019s how other advocates, stakeholders and state officials are reacting to the committee vote:<\/strong><\/p>\n<h3>NORML<\/h3>\n<p>\u201cThis bipartisan legislation represents an improved version of the SAFE Banking Act,\u201d NORML Political Director Morgan Fox said. \u201cIt allows state-licensed cannabis businesses to more easily access financial services, such as opening a simple bank account, and it provides entrepreneurs with greater access to lending and other services that are available to other legal businesses.\u201d<\/p>\n<p>\u201cMarijuana businesses\u2019 lack of access to these necessary financial services creates serious threats to the safety of cannabis consumers and the employees that serve them, limits transparency and accountability for those operating in this legal industry, and severely hinders the ability of small businesses to effectively compete with the underground market and with larger well-funded companies,\u201d he said.<\/p>\n<h3>Colorado Gov. Jared Polis (D)<\/h3>\n<p>\u201cI am thrilled the Senate has finally taken up this important piece of legislation that will provide more certainty to our small businesses and marijuana industry, this is an important step and I thank the Senators who voted in favor of this bipartisan bill,\u201d Polis said.<\/p>\n<p>\u201cThis bill supports cannabis-related businesses, supports minority, women, and veteran-owned small businesses, will help create jobs, and strengthen public safety in our communities and across the country,\u201d he said. \u201cWe look forward to seeing a full vote in the Senate and passage in the House again soon.\u201d<\/p>\n<h3>National Cannabis Roundtable (NCR)<\/h3>\n<p style=\"font-weight: 400\">\u201cToday\u2019s action is not only historic but also is at a time where it could not be more urgently needed to help the regulated cannabis industry in 38 states be able to compete against the growing threat of an illicit market that greatly risks public safety and consumer safety,\u201d NCR Executive Director Saphira Galoob said.<\/p>\n<p style=\"font-weight: 400\">\u201cWe are heartened to see broad bipartisan support move this bill out of committee, and we look forward to momentum and support continuing to build as it moves to the Senate Floor and ultimately to the House, which has previously overwhelmingly passed the bill\u2014at long last getting this critical measure signed into law this Congress,\u201d she said.<\/p>\n<h3>U.S. Cannabis Council (USCC)<\/h3>\n<p>\u201cToday\u2019s vote by the Senate Banking Committee marks the first time that cannabis banking reform has been passed out of a Senate committee,\u201d USCC SVP of Public Affairs David Culver said. \u201cThis marks a critical step toward securing banking access for the nation\u2019s $30+ billion licensed cannabis industry, which supports over 400,000 full-time jobs across the country.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today\u2019s vote by the Senate Banking Comm. marks the first time that cannabis banking reform has been passed out of a Senate committee. This marks a critical step toward securing banking access for the nation\u2019s licensed cannabis industry, which supports 400k+ jobs across the US.<\/p>\n<p>\u2014 US Cannabis Council (@USCannabisCncl) <a href=\"https:\/\/twitter.com\/USCannabisCncl\/status\/1707043399952674962?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>\u201cThe House has previously passed the SAFE Banking Act seven times, but the Senate has stopped short in the past. The primary obstacle was that SAFE had not advanced through regular order. With today\u2019s vote, that obstacle is history,\u201d he said. \u201cThe updated SAFER Banking Act is now in a strong position to be passed on the Senate floor, either as a stand-alone bill or part of a larger package. This is where our focus will remain.\u201d<\/p>\n<h3>BOWL PAC<\/h3>\n<p>\u201cWith today\u2019s committee passage of the SAFE Banking Act, and thanks to the leadership of Senators Schumer and Booker who have fought tenaciously to ensure that the HOPE Act will receive a vote as an amendment when bill gets to the floor, we have a real opportunity to thoughtfully advance both modest industry and criminal legal reforms in a meaningful way, setting the precedent that we all do better when we all do better,\u201d BOWL PAC Founder Justin Strekal told Marijuana Moment.<\/p>\n<p>(Disclosure: Strekal supports Marijuana Moment\u2019s work through a\u00a0<a href=\"https:\/\/www.patreon.com\/marijuanamoment\" target=\"_blank\" rel=\"noopener\">monthly pledge on Patreon<\/a>.)<\/p>\n<h3>National Cannabis Industry Association (NCIA)<\/h3>\n<p>\u201cThe committee\u2019s approval of the SAFER Banking Act which gives hope to thousands of compliant, tax-paying businesses desperately trying to access the basic financial services other businesses take for granted,\u201d NCIA CEO Aaron Smith said. \u201cThis uniquely bipartisan legislation has the potential to save lives and help small businesses; it\u2019s time for Congress to get it to the president\u2019s desk without further delay.\u201d<\/p>\n<h3>Minority Cannabis Business Association<\/h3>\n<p>\u201cThis morning\u2019s successful markup of the SAFE(R) Banking Act is a historic step towards final passage of a critical policy building block for the cannabis industry and we are thankful to the committee for including MCBA\u2019s suggestions in the latest version of this bill,\u201d Kaliko Castille, the group\u2019s president, said. \u201cAfter years of dedicated advocacy work, our efforts have culminated in the inclusion of Community Development Financial Institutions (CDFIs) in the SAFE Banking Act.\u201d<\/p>\n<p>\u201cMCBA remains committed to ensuring the final version of the SAFE(R) Banking Act not only opens the doors for legal cannabis banking but also focuses on positively impacting those who have been disproportionately affected by cannabis prohibition,\u201d Castille said. \u201cWe look forward to seeing HOPE added on the floor and seeing this bill eventually signed by President Biden so that we can move on to a comprehensive package that finally ends a decades long war on black and brown communities that is still actively locking people up for a plant.\u201d<\/p>\n<h3>Credit Union National Association (CUNA)<\/h3>\n<p>\u201cWe thank the committee for moving forward on this important legislation to bring consistency and common-sense to the intersection of banking regulation and legal cannabis businesses,\u201d\u00a0 CUNA Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak said. \u201cThis bill will allow credit unions to lawfully serve these businesses and addresses the serious public safety issue of forcing these businesses to deal in only cash.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u201cWe thank the committee for moving forward on this important legislation to bring consistency and common-sense to the intersection of banking regulation and legal cannabis businesses.\u201d \u2013 CUNA Deputy Chief Advocacy Officer <a href=\"https:\/\/twitter.com\/JasonStverak?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@JasonStverak<\/a> <a href=\"https:\/\/t.co\/RVJyT5w6uU\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/t.co\/RVJyT5w6uU<\/a> <a href=\"https:\/\/t.co\/MWy55iXsMi\" target=\"_blank\" rel=\"nofollow noopener\">pic.twitter.com\/MWy55iXsMi<\/a><\/p>\n<p>\u2014 CUNA (@CUNA) <a href=\"https:\/\/twitter.com\/CUNA\/status\/1707041378427937022?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>The statement is notable given that, ahead of the vote, a CUNA official <a href=\"https:\/\/subscriber.politicopro.com\/article\/2023\/09\/major-financial-services-lobbying-group-takes-issue-with-new-cannabis-banking-bill-language-00118264\" target=\"_blank\" rel=\"noopener\">told<\/a> Politico that they were \u201cvery concerned\u201d with \u201cuntenable\u201d changes to the bill related to regulators\u2019 authority to \u201cdictate\u201d financial services contacts for its members.<\/p>\n<h3>American Trade Association for Cannabis and Hemp (ATACH)<\/h3>\n<p>\u201cWe\u2019re pleased SAFER has advanced out of committee with bipartisan support and will move to the Senate floor. The time is now for real change,\u201d ATACH President Michael Bronstein said. \u201cState-sanctioned cannabis programs deserve protections as do financial institutions providing financial services to them.\u201d<\/p>\n<p>\u201cThe current status quo is unfair, outdated, and unsafe as proven by numerous cannabis robberies motivated by businesses forced to operate in cash,\u201d he said. \u201cYet today\u2019s vote is monumental in securing the change that is needed and is the first time a cannabis bill has cleared a Senate committee and we applaud the Banking members for their work.\u201d<\/p>\n<h3>American Bankers Association (ABA)<\/h3>\n<p>\u201cThis urgently needed, bipartisan legislation will resolve the ongoing conflict between state and federal law so that banks can serve state-authorized cannabis and cannabis-related businesses while enhancing public safety, tax collection and financial transparency,\u201d ABA President Rob Nichols said. \u201cThe status quo is simply untenable for consumers, small businesses and banks operating in states where cannabis is legal. Based on today\u2019s bipartisan vote, we urge the full Senate to promptly consider this bill.\u201d<\/p>\n<h3>United Food and Commercial Workers International Union (UFCW)<\/h3>\n<p>\u201cWe applaud the Senate Banking Committee for taking this critical step toward creating a more secure financial future for cannabis workers,\u201d UFCW International President Marc Perrone said. \u201cAcross the country, workers in this industry go to work and are forced to deal with large sums of cash, leaving them more vulnerable to theft and robberies.\u201d<\/p>\n<p>\u201cThe cannabis industry is a completely legitimate and lawful industry in many states and should not be excluded from basic financial protections,\u201d he said. \u201cThe SAFER Banking Act addresses these issues, providing a pathway for legitimate cannabis businesses, and their employees, to have access to traditional banking services.\u201d<\/p>\n<p>\u201cAs America\u2019s cannabis union, the UFCW has been involved with cannabis legislation across the country, <a href=\"https:\/\/www.marijuanamoment.net\/watch-live-u-s-senate-committee-holds-marijuana-banking-hearing\/\" target=\"_blank\" rel=\"noopener\">testifying in front of the Senate just this past year in support of the SAFE Banking Act<\/a>,\u201d he continued. \u201cWe remain committed to fighting for a better life for cannabis workers everywhere and call on all of our nation\u2019s elected officials to support and uplift our cannabis workers.\u201d<\/p>\n<h3>Wine &amp; Spirits Wholesalers of America<\/h3>\n<p>\u201cThe Senate committee\u2019s passage of significant cannabis reform legislation is notable, but this bill fails to comprehensively address the issues prevalent in today\u2019s poorly regulated cannabis marketplace,\u201d Francis Creighton, the group\u2019s president and CEO said. \u201cThe lack of federal regulation of cannabis is a threat to public health and safety. Congress should pass comprehensive legislation that creates a strong regulatory system, akin to the successful alcohol regulatory system. Anything short puts consumers and non consumers at greater risk.\u201d<\/p>\n<h3>National Association of Federally-Insured Credit Unions (NAFCU)<\/h3>\n<p>\u201cAfter today\u2019s committee passage of the SAFER Banking Act, NAFCU thanks Senator Brown and members of the Senate Banking Committee for their leadership on this issue and willingness to make changes to address concerns raised by credit unions and other community financial institutions,\u201d NAFCU Senior Vice President of Government Relations Greg Mesack said.<\/p>\n<p>\u201cThis legislation is necessary to protect credit unions and the communities they serve in states where legal cannabis businesses are seeking financial services,\u201d he said. \u201cIt will help reduce risks by providing some legal clarity and expanding access to deposit accounts and other financial products. NAFCU looks forward to continuing the conversation as the bill moves forward to a full body vote.\u201d<\/p>\n<h3>Teamsters<\/h3>\n<p>\u201cAs Congress works to establish the necessary guardrails around cannabis legalization, the labor and safety interests of workers must be paramount,\u201d Teamsters General President Sean O\u2019Brien said in a letter to committee leaders last week that was promoted on Wednesday. \u201cPassing SAFER banking is a necessary part of this process and can help improve working conditions while easing operational burdens for employers across the country.\u201d<\/p>\n<h3>Washington State Treasurer<\/h3>\n<p>\u201cAccess to secure and reliable banking services is a necessity for small businesses and their employees in Washington state to effectively and safely operate,\u201d the treasurer\u2019s office posted. \u201cGreat to see that #SAFEBanking is making progress in the US Senate.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Access to secure and reliable banking services is a necessity for small businesses and their employees in Washington state to effectively and safely operate. Great to see that <a href=\"https:\/\/twitter.com\/hashtag\/SAFEBanking?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">#SAFEBanking<\/a> is making progress in the US Senate. <a href=\"https:\/\/t.co\/Ne1739TAad\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/t.co\/Ne1739TAad<\/a><\/p>\n<p>\u2014 WA State Treasurer (@WaTreasurer) <a href=\"https:\/\/twitter.com\/WaTreasurer\/status\/1707056584705372343?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<h3>Smart Approaches to Marijuana (SAM)<\/h3>\n<p>The Senate Banking Committee \u201cfailed to do its job and protect Americans from these drugs,\u201d SAM President Kevin Sabet said in a statement.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Following the Senate Banking Committee\u2019s vote to advance the \u201cAddiction Banking Act\u201d to the full Senate,\u00a0Smart Approaches to Marijuana Action (SAM Action) President Dr. <a href=\"https:\/\/twitter.com\/KevinSabet?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@KevinSabet<\/a>, a former three-time White House drug policy advisor, released the following statement: <a href=\"https:\/\/t.co\/cegHnaeXU5\" target=\"_blank\" rel=\"nofollow noopener\">pic.twitter.com\/cegHnaeXU5<\/a><\/p>\n<p>\u2014 SAM (@learnaboutsam) <a href=\"https:\/\/twitter.com\/learnaboutsam\/status\/1707042905234305029?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>\u201cNow it\u2019s up to the full Senate to show Americans who really runs Washington\u2014the people, or the banking and addiction industry lobbyists,\u201d he said.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"iypEh2uBjv\">\n<p><a href=\"https:\/\/www.marijuanamoment.net\/young-adults-had-significant-reductions-in-marijuana-use-after-legalization-study-published-by-american-medical-association-finds\/\" target=\"_blank\" rel=\"nofollow noopener\">Young Adults Had \u2018Significant Reductions\u2019 In Marijuana Use After Legalization, Study Published By American Medical Association Finds<\/a><\/p>\n<\/blockquote>\n<p \/>\n<p>\u00a0<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.marijuanamoment.net\/schumer-pledges-to-bring-committee-passed-marijuana-banking-bill-to-floor-very-soon-as-gop-senators-vow-to-kill-it\/\" target=\"_blank\">Schumer Pledges To Bring Committee-Passed Marijuana Banking BIll To Floor \u2018Very Soon\u2019 As GOP Senators Vow To Kill It<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.marijuanamoment.net\" target=\"_blank\">Marijuana Moment<\/a>.<\/p>\n<p>&#013;<br \/>\n&#013;<br \/>\nRead More: <a href=\"https:\/\/www.marijuanamoment.net\/schumer-pledges-to-bring-committee-passed-marijuana-banking-bill-to-floor-very-soon-as-gop-senators-vow-to-kill-it\/\" target=\"_blank\" rel=\"nofollow noopener\">Schumer Pledges To Bring Committee-Passed Marijuana Banking BIll To Floor \u2018Very Soon\u2019 As GOP Senators Vow To Kill It<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawmakers, advocates and stakeholders across the spectrum are reacting to Wednesday\u2019s committee passage of a bipartisan marijuana banking bill\u2014with Senate Majority Leader Chuck Schumer (D-NY) pledging to bring it to the floor \u201cvery soon\u201d and a group of four GOP senators vowing to kill the legislation. Just before the Senate<span class=\"more-link\"><a href=\"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2023\/09\/27\/schumer-pledges-to-bring-committee-passed-marijuana-banking-bill-to-floor-very-soon-as-gop-senators-vow-to-kill-it\/\">Continue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":68867,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81,126],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/68866"}],"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=68866"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/68866\/revisions"}],"predecessor-version":[{"id":68868,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/68866\/revisions\/68868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/68867"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=68866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=68866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=68866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}