"Marijuana Banking Bill Talks Were 'Very Productive' Over Recess, GOP Senate Sponsor's Office Says, As Key Chairman Predicts 'Imminent' Agreement" - Marijuana Moment
Portfolio Pulse from Happy Mohamed
Bipartisan talks over the Secure and Fair Enforcement (SAFE) Banking Act, a marijuana banking bill, have been productive during the August recess, according to the office of the lead GOP Senate sponsor. The legislation, which aims to protect banks and credit unions from being penalized by federal regulators for working with state-licensed cannabis businesses, could move to a vote soon. However, disagreements over one key section of the bill that some Democrats believe would undermine banking regulations could prevent it from advancing.
September 07, 2023 | 2:55 pm
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POSITIVE IMPACT
The SAFE Banking Act could potentially benefit Aurora Cannabis by providing it with more banking options.
If the SAFE Banking Act passes, it would protect banks and credit unions from being penalized for working with state-licensed cannabis businesses, potentially providing Aurora Cannabis with more banking options.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The SAFE Banking Act could potentially benefit Canopy Growth Corporation by providing it with more banking options.
If the SAFE Banking Act passes, it would protect banks and credit unions from being penalized for working with state-licensed cannabis businesses, potentially providing Canopy Growth Corporation with more banking options.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The SAFE Banking Act could potentially benefit Cronos Group by providing it with more banking options.
If the SAFE Banking Act passes, it would protect banks and credit unions from being penalized for working with state-licensed cannabis businesses, potentially providing Cronos Group with more banking options.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The SAFE Banking Act could potentially benefit Tilray by providing it with more banking options.
If the SAFE Banking Act passes, it would protect banks and credit unions from being penalized for working with state-licensed cannabis businesses, potentially providing Tilray with more banking options.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70