'Senate GOP Marijuana Banking Sponsor And Key Chairman At Odds Over Next Steps For SAFE Banking Bill' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
Senators Sherrod Brown and Steve Daines are at odds over the next steps for the Secure and Fair Enforcement (SAFE) Banking Act, a bipartisan marijuana banking bill. Brown is entrusting Daines to gather more Republican support, while Daines claims that Democratic members are pushing for amendments that would break their initial agreement. The bill aims to protect banks and credit unions from federal penalties for working with state-licensed cannabis businesses. The disagreement between the senators could delay the bill's progress.
July 12, 2023 | 5:08 pm
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NEGATIVE IMPACT
The disagreement over the SAFE Banking Act could delay its progress, potentially impacting Aurora Cannabis if the bill is not passed.
If the SAFE Banking Act is not passed, banks may continue to be hesitant to work with cannabis businesses, potentially impacting Aurora Cannabis's ability to secure banking services.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The disagreement over the SAFE Banking Act could delay its progress, potentially impacting Canopy Growth Corporation if the bill is not passed.
If the SAFE Banking Act is not passed, banks may continue to be hesitant to work with cannabis businesses, potentially impacting Canopy Growth Corporation's ability to secure banking services.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The disagreement over the SAFE Banking Act could delay its progress, potentially impacting Cronos Group if the bill is not passed.
If the SAFE Banking Act is not passed, banks may continue to be hesitant to work with cannabis businesses, potentially impacting Cronos Group's ability to secure banking services.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The disagreement over the SAFE Banking Act could delay its progress, potentially impacting Tilray if the bill is not passed.
If the SAFE Banking Act is not passed, banks may continue to be hesitant to work with cannabis businesses, potentially impacting Tilray's ability to secure banking services.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50