Senate Leaders Promise Action on Cannabis Banking Reform

Senate Leaders Promise Action on Cannabis Banking Reform

The US Senate returned from their August recess this week and Majority Leader Schumer (D-NY) has emphasized the importance of advancing the Secure and Fair Enforcement Act (SAFE Banking).  Banking is a critical issue for cannabis businesses, including hemp companies with no commerce in cannabinoids. 

Senators need to make a case for cannabis banking being critical to the US economy.  Billions of cannabis dollars flow through state economies, but it is poorly tracked, and creates safety and logistical issues.  Providing banks with risk assurances would have a powerful impact on cannabis businesses. 

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