Several entities have included the Secure and Fair Enforcement Regulation (SAFER) Banking Act on their lobbying disclosures for the third quarter of 2023.
In an analysis of new Congressional lobbying disclosures, a NY-based outlet found that Bank of America (NYSE: BAC), Mastercard (NYSE: MA), the NRA, GlaxoSmithKline (NYSE: GSK) and other entities are lobbying on cannabis banking reform.
“Recently, several other noteworthy names jumped on the SAFER Act lobbying train,” wrote Alyson Martin, co-founder of Cannabis Wire and author of the report.
Cannabis Banking Reform
The SAFER Banking Act was crafted to enable legal cannabis businesses access to banks and financial institutions, which, up to now, have been off limits because cannabis is still a federally illegal substance. On Sept. 27, the SAFER Banking Act passed in the Senate Banking Committee and is expected to move to the full Senate and then to the House.
In a weekend story, Cannabis Wire noted that cannabis banking reform has attracted more congressional lobbying attention than any other ...