Marijuana banking bill rules out year-end spending measure, back to the drawing board for industry

The much-anticipated and highly anticipated banking reform has been largely left out of the spending bill He is expected to be released on Monday, a Senate staffer confirmed. marijuana moment,

This represents another major setback for the passage of the Safe and Fair Enforcement (SAFE) Banking Act. The bill was expected to be passed during the soon-to-be-ending lame-duck session.

after offer Failed to include it in the National Defense Authorization Act (NDAA) Earlier in December, it was expected that the appropriations would serve to protect banks that work with state-legal cannabis companies. Marijuana banking package includes eviction grants and gun rights protections, informed of Politics.

despite the senator chuck schumer (D-NY) efforts to omnibus and pass cannabis banking reform, talks failed to produce a package that includes the measure.

“The lack of secure banking language leaves advocates with few legislative options – and little time – to advance reform during the lame duck final weeks,” Marijuana Moments said. kyle jagger, “It’s still theoretically possible that the bill, or the broader SAFE Plus package Schumer is working on, could be introduced as a standalone — but only before lawmakers adjourn for that year.” With a few days left that seems like a remote possibility.”

It’s back to the drawing board for advocates of safer banking for the cannabis industry.

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