CRON - Sen. Schumer said to be confident of clearing cannabis banking bill this session

2023-06-21 15:31:22 ET

Senate Majority Leader Chuck Schumer (D-N.Y.) is "confident" that the current session of Congress will pass a key marijuana banking bill, Marijuana Moment reported Wednesday, citing cannabis entrepreneur Wanda James.

During a brief discussion with James, who heads Colorado's first black-owned cannabis dispensary, Simply Pure, Schumer said last week that the bill would advance and be enacted this year.

The Secure and Fair Enforcement (SAFE) Banking Act which allows legal cannabis companies to access the U.S. banking system, was reintroduced with bipartisan support in Congress in late April, leading to an initial hearing in the Senate Banking Committee last month.

According to James, Schumer noted that the bill has enough Republican support in the Senate to move to the House, where it has been cleared multiple times in recent years in some form or another.

Citing her informal conversation with the Senate leader, James remarked: "I am of the opinion that our Democratic leadership believes that this is something we can get done." A representative for Schumer was not immediately available for comment.

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