Senate Majority Leader Chuck Schumer said Sunday that he and his colleagues are “very close” to passing legislation that would authorize financial institutions to provide services to cannabis businesses.
Speaking during a debate in his New York senate race, Schumer signaled that the SAFE Banking Act may finally be close to earning full passage.
“I am working in a bipartisan way with Democrats and Republicans to take the SAFE Banking Act, which allows financial institutions to involve themselves in cannabis companies and lend money to them—but it also does some things for justice, such as expunging a record,” Schumer said
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