Major Financial Association And 44 State Partners Demand Marijuana Banking Vote

[KLAW Blog]

A major national banking association, along with 44 state partners, is asking Senate leadership to bring a House-passed marijuana banking reform bill to a vote on the floor “without further delay.”

In a letter sent to Senate Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-KY) on Monday, the Independent Community Bankers of America (ICBA) asked for urgent consideration of the Secure and Fair Enforcement (SAFE) Banking Act, before the end of the year.

“The SAFE Banking Act is essential for the ongoing ability of community banks to effectively serve their communities,” the letter says. “The Act would also alleviate the significant threat to public safety posed by cash intensive CRBs effectively being shut out of the banking industry.”

ICBA said that the legislation should be advanced during the lame duck session either as a standalone bill or as an amendment to another proposal. Schumer has been working to finalize a package of marijuana reform legislation that’s expected to contain the language of the SAFE Banking Act, as well as a separate bipartisan proposal on expunging prior cannabis convictions.

Read the rest here at Marijuana Moment

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