Sherrod Brown

Senate Banking Chair Sherrod Brown (D-OH) is sounding increasingly optimistic about banking reform for the cannabis industry.  Brown reiterated this week that the Secure and Fair Enforcement (SAFE) Banking Act will likely get a committee hearing over the next six...

Marijuana Banking Bill Won't Get A Vote In Senate This Summer Marijuana banking reform seems to be off the table until senators get back from the August recess to get consideration, reported Marijuana Moment. Senate Banking Committee Chairman Sherrod Brown (D-OH) told Don Murphy of...

Remember when New York-based Signature Bank (OTCPK: SBNY) became the third financial institution to collapse following the demise of Silicon Valley Bank and Silvergate Capital Corp? This led to some unexpected, if ironic, consequences...the ...

Vote on Marijuana Banking Expected Within Two to Three Weeks The Senate Banking Committee led by Ohio Senator Sherrod Brown, Committee Chair, heard testimony on the SAFE Banking Act on May 11 for nearly two hours before adjourning without a vote. Brown said recently a long-awaited vote on cannabis...

With marijuana being classified as a Schedule I drug under federal law, state-licensed cannabis businesses are cut off from accessing capital financial institutions such as banks. This leads to the question of how economic storms like the one caused by the recent failure of Silicon Valley Bank, a...

The top Senate Democrat continues to push for federal marijuana reform. Following a meeting with a group of fellow Democratic senators to discuss the path that would push cannabis legislation toward approval in the new Congress, Majority Leader Charles Schumer (D-NY) convened with several GOP...

Senate Democrats are not giving up on marijuana banking reform. Majority Leader Charles Schumer (D-NY) met Wednesday with several other Democratic senators to “ponder the path” that would push cannabis legislation toward approval in this Congress...

The Department of Justice issued a memo to congressional leaders regarding the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) indicating its concerns about the bill. According to the department, the language in the initial House bill “could significantly...

Last week, U.S. Senate Majority Leader Chuck Schumer met with Senate Banking Chairman Sherrod Brown (D-Ohio), Sens. Steve Daines (R-Montana) and Jeff Merkley (D-Oregon), among other legislators, to talk about the SAFE Banking Act. Lawmakers said they were making an effort to find common...

The Chair of the Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, has sent a letter to Federal Reserve Chair Jerome Powell, reminding him about the central bank’s dual mandate and asking him not to forget his responsibilities to ...

U.S. lawmakers have asked Apple Inc (NASDAQ: AAPL) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) to provide information on how they review fraudulent cryptocurrency apps and prevent potential scams. What Happened: Sen. Sherrod Brown (D-OH), Chairman of...

The unofficial marijuana holiday 4/20 on Wednesday once again stirred up discussion among top lawmakers and officials in the U.S. about the drug's legal status. While the support for the legalization of marijuana on the federal level comes mainly from the Democrats, President Joe Biden has not...

U.S. federal regulators are looking to tighten the regulation on cryptocurrencies to prevent them from acting as a tool for Russia to circumvent sanctions. What Happened: Federal Reserve Chairman Pro Tempore Jerome Powell and multiple members of the House of Representatives ...

Democratic senators took the chance to use the lame-duck session to work in one more gridlock this week. This time, the issue is over the stop-gap spending bill passed by the House this week, which would fund government operations through late April. The Spending Bill In Question A handful of...

Instead of “David versus Goliath,” the Senate Banking Committee had to sort out a “Goliath versus Goliath” scenario Tuesday, according to Reuters. Big aluminum buyers, represented by the second largest brewer in the U.S., charged that the largest banks in the country drove up their costs by...