Politico Reporter Natalie Fertig Posts On X, "Rep. Blaine Luetkemeyer Told Me Wednesday That Negotiations Over Section 10 Of The Safe Banking Act Are 'Down To Just The Last Few Words.'"
Portfolio Pulse from Benzinga Newsdesk
Negotiations over the Safe Banking Act, specifically section 10 which addresses protections for gun shops and relates to the Operation Choke Point program, are nearing completion according to Rep. Blaine Luetkemeyer. This section has been a point of contention but is close to being finalized, with support from both sides of the aisle.
February 15, 2024 | 3:52 pm
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POSITIVE IMPACT
The nearing completion of the Safe Banking Act negotiations, particularly on protections for gun shops, could positively impact the cannabis sector, potentially benefiting the ETF MJ.
The Safe Banking Act's successful negotiation, especially on contentious sections like protections for gun shops, could lead to easier banking for cannabis companies, indirectly benefiting ETFs like MJ that track the cannabis industry.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The nearing resolution of the Safe Banking Act, especially regarding section 10, could have a positive impact on MSOS by potentially easing banking restrictions for cannabis businesses.
As the Safe Banking Act moves closer to resolution, particularly on issues like gun shop protections, it could lead to a more favorable banking environment for cannabis companies. This would indirectly benefit MSOS, an ETF focusing on U.S. cannabis operators.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80