Schumer Promises Floor Vote For SAFER Banking
October 3, 2023The SAFER Banking Act, a slightly revised version of the long-awaited SAFE Banking Act, sailed through its hearing with the Senate Banking Committee last week with a vote of 14-9 and now awaits consideration from the full chamber. Majority Leader Chuck Schumer promised he will bring the bill to the Senate floor in the near future, saying, “The next step is to bring SAFER Banking to the floor for a vote, which I will do soon. I worked long and hard for years to get us to this point, and now the Senate is one step—one crucial step—closer to helping cannabis businesses operate more efficiently, more safely and more transparently in the states that allow cannabis to be sold.”
He continued, “SAFER Banking’s bipartisan vote in the Banking Committee underscores how much momentum we have right now on cannabis banking—and how important the issue is for so many business owners and communities across the country. No industry has the ability to thrive if its businesses can’t access basic banking infrastructure, especially not an industry growing as quickly and one as new as the cannabis industry.” SAFER Banking’s floor vote has yet to be scheduled.—Danny Sullivan
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