cannabis banking reform

With just six weeks left in 2024, Senate Majority Leader Chuck Schumer (D-NY) faces mounting criticism for failing to deliver on his long-standing promise of achieving cannabis banking reform. Now, he’s mounting a Hail Mary effort to get it across the finish line before the term ends....

Senate Republicans elected Sen. John Thune of South Dakota as the new majority leader Wednesday, succeeding Sen. Mitch McConnell of Kentucky. Thune, who has consistently opposed marijuana legalization, has also criticized efforts to reschedule cannabis and expand the industry’s access to...

At the recent Benzinga Cannabis Spotlight in New Jersey, experts like Pablo Zuanic, managing partner at Zuanic & Associates, and Tyler Beuerlein from Safe Harbor Financial discussed the end of cannabis banking issues and the risks of overly ambitious regulations. The panel also...

Two armed men, along with their getaway driver, were arrested this week for robbing a courier who was transporting over $436,000 from multiple cannabis dispensaries in Massachusetts.   The perpetrators intercepted the courier, sprayed him in the eyes with pepper spray and then made off with the...

Senators Chuck Grassley (R-IA) and John Cornyn (R-TX) joined a chorus of criticism against state-legal marijuana markets and the pending cannabis banking reform legislation. Their remarks are part of the ongoing debate surrounding marijuana policy, which will likely shift following Tuesday's...

In a Friday letter laying out his legislative priorities to the Senate, Majority Leader Chuck Schumer (D., N.Y.) came out swinging, albeit diplomatically, at "MAGA extremism" and recent attempts by some to force a "harmful and pointless government shutdown." Schumer then thanked the body for...

The House Republican Policy Committee announced its formal opposition to the Secure and Fair Enforcement (SAFE) Banking Act and the Cannabis Users' Restoration of Eligibility (CURE) Act, denouncing both measures that seek to integrate the marijuana industry into the federal banking system and...

The push for legislation that could finally allow banks to provide services to cannabis businesses gained steam this week, with key figures from both sides of the aisle reiterating their support for the Secure and Fair Enforcement Regulation (SAFER) Banking Act. The renewed nudge suggests a...

Senate Majority Leader Chuck Schumer (D-N.Y.) vowed Wednesday that lawmakers will "hit the ground running" in 2024, prioritizing bipartisan progress on key issues like marijuana banking reform though he acknowledged it won't be easy. Wrapping up the chamber's 2023 legislative...

Several entities have included the Secure and Fair Enforcement Regulation (SAFER) Banking Act on their lobbying disclosures for the third quarter of 2023. In an analysis of new Congressional lobbying disclosures, a NY-based outlet found that Bank of America (...

Sen. Steve Daines (R-MT), co-sponsor of the bipartisan cannabis banking bill, says the Secure and Fair Enforcement Regulation (SAFER) Banking Act will remain on hold until there's more certainty of its acceptance in the GOP-controlled House of Representatives. Daines made the...

The Senate Banking Committee approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act Wednesday, marking a regulatory milestone that has been in the works for nearly a decade. The bill is crafted to enable legal cannabis businesses access to banks and...

The National Conference of State Legislatures (NCSL) is calling on Senate Majority Leader Chuck Schumer (D-NY) and Senate Minority Leader Mitch McConnell (R-KY) to take action on the cannabis banking reform.  Tim Storey, chief executive officer of the NCSL sent a...

Senator Pushes To Amend Marijuana Banking Bill To Offer Access To SBA Services As cannabis banking reform awaits further legislative action in Congress, a Democratic U.S. Senate member seeks to allow cannabis businesses to utilize the federal Small Business Administration (SBA) services,...

As Senate lawmakers prepare to consider a marijuana banking bill this week, Majority Leader Chuck Schumer (D-NY) said he's optimistic the proposed policy change will become law. Cannabis Banking Hearing Ahead: A Senate Banking Committee hearing on cannabis banking issues and the...