ACRHF - Schumer says cannabis banking reform will not advance before marijuana legalization bill

Sen. Chuck Schumer (D-N.Y.) said that he has reached an agreement with Senate colleagues that a banking reform bill impacting cannabis companies will not advance before marijuana legalization, Marijuana Moment reports. Schumer made the comments on the podcast Psychoactive released today. The Senate majority leader said that there is an understanding between him, Senate Finance Committee Chairman Ron Wyden (D-Ore.), and Sen. Cory Booker (D-N.J.) to block legislation that would just protect financial institutions that work with cannabis businesses until a legalization bill is advanced. The banking reform legislation, the Secure and Fair Enforcement ("SAFE") Banking Act, has bipartisan support. Asked why he doesn't support the SAFE Act moving forward while marijuana reform is being worked on, Schumer said he believes that scenario would make it harder and take longer to pass marijuana legalization. Separately, the House Judiciary Committee today is expected to vote on advancing the Marijuana Opportunity, Reinvestment

For further details see:

Schumer says cannabis banking reform will not advance before marijuana legalization bill