'Senate Committee Chairman Says Marijuana Banking Bill Actually Won't Get A Vote This Summer, Despite His Goal, Lobbyist Reports' - Marijuana Moment
Portfolio Pulse from Happy Mohamed
The bipartisan marijuana banking bill, the Secure and Fair Enforcement (SAFE) Banking Act, will not be addressed during the summer session as previously hoped. The delay is due to disagreements over one section of the bill concerning broader banking regulations. The bill aims to protect banks and credit unions from being penalized by federal regulators for working with state-licensed cannabis businesses.
July 20, 2023 | 5:49 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The delay in the SAFE Banking Act could impact Aurora Cannabis as it may continue to face banking challenges in the US.
The SAFE Banking Act aims to protect banks working with cannabis businesses. Delay in its implementation could continue the banking challenges for cannabis companies like Aurora Cannabis.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Canopy Growth Corporation could be negatively impacted by the delay in the SAFE Banking Act as it may continue to face banking challenges in the US.
The SAFE Banking Act aims to protect banks working with cannabis businesses. Delay in its implementation could continue the banking challenges for cannabis companies like Canopy Growth Corporation.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Cronos Group could be negatively impacted by the delay in the SAFE Banking Act as it may continue to face banking challenges in the US.
The SAFE Banking Act aims to protect banks working with cannabis businesses. Delay in its implementation could continue the banking challenges for cannabis companies like Cronos Group.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Tilray could be negatively impacted by the delay in the SAFE Banking Act as it may continue to face banking challenges in the US.
The SAFE Banking Act aims to protect banks working with cannabis businesses. Delay in its implementation could continue the banking challenges for cannabis companies like Tilray.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70