"Schumer Touts 'Good Progress' On Marijuana Banking Bill, Saying It Has 'Always Been A Priority For Me'" - Marijuana Moment
Portfolio Pulse from Happy Mohamed
Senate Majority Leader Chuck Schumer has stated that progress is being made on the Secure and Fair Enforcement (SAFE) Banking Act, a bill that would protect banks and credit unions from federal penalties for working with state-licensed cannabis businesses. The bill has faced delays due to disagreements over certain sections, but Schumer remains confident that it will pass. The American Trade Association for Cannabis and Hemp, along with other trade groups, have urged for the bill to be passed without further delay.
July 28, 2023 | 3:06 pm
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POSITIVE IMPACT
The passage of the SAFE Banking Act could potentially benefit Aurora Cannabis by providing easier access to banking services and potentially attracting more investors.
The SAFE Banking Act would protect banks from federal penalties for working with cannabis businesses, potentially making it easier for companies like Aurora Cannabis to access banking services and attract investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Canopy Growth Corporation could potentially benefit from the passage of the SAFE Banking Act by gaining easier access to banking services and potentially attracting more investors.
The SAFE Banking Act would protect banks from federal penalties for working with cannabis businesses, potentially making it easier for companies like Canopy Growth Corporation to access banking services and attract investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Tilray could potentially benefit from the passage of the SAFE Banking Act by gaining easier access to banking services and potentially attracting more investors.
The SAFE Banking Act would protect banks from federal penalties for working with cannabis businesses, potentially making it easier for companies like Tilray to access banking services and attract investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75