"Senate Banking Committee Chair Aims To Advance Marijuana Bill Within 'The Next Six Weeks'" - Marijuana Moment
Portfolio Pulse from Happy Mohamed
Senate Banking Committee Chairman Sherrod Brown plans to advance the Secure and Fair Enforcement (SAFE) Banking Act, a key marijuana banking legislation, within the next six weeks. The Act, which has bipartisan support, aims to protect banks and credit unions from federal penalties for working with state-licensed cannabis businesses. However, its passage is contingent on several factors, including disagreements over certain sections of the bill. The Act has 42 cosponsors, including eight Republicans and three independents, and is expected to reach the 60-vote threshold needed for passage in the Senate.
September 06, 2023 | 3:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The advancement of the SAFE Banking Act could potentially benefit Aurora Cannabis by providing it with easier access to banking services in the U.S.
The SAFE Banking Act aims to protect banks from federal penalties for working with cannabis businesses. If passed, it could make it easier for cannabis companies like Aurora Cannabis to access banking services in the U.S., potentially improving their financial operations and stability.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
The advancement of the SAFE Banking Act could potentially benefit Canopy Growth Corporation by providing it with easier access to banking services in the U.S.
The SAFE Banking Act aims to protect banks from federal penalties for working with cannabis businesses. If passed, it could make it easier for cannabis companies like Canopy Growth Corporation to access banking services in the U.S., potentially improving their financial operations and stability.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
The advancement of the SAFE Banking Act could potentially benefit Tilray by providing it with easier access to banking services in the U.S.
The SAFE Banking Act aims to protect banks from federal penalties for working with cannabis businesses. If passed, it could make it easier for cannabis companies like Tilray to access banking services in the U.S., potentially improving their financial operations and stability.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70