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Cannabis banking left out of NDAA (Newsletter: December 7, 2022)

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Congressional negotiators declined to include much-anticipated marijuana banking, expungements and other reform provisions in the National Defense Authorization Act.

In a floor speech, Senate Minority Leader Mitch McConnell (R-KY) blasted Democrats’ push to include marijuana banking language in the National Defense Authorization Act, saying it would make the financial system “more sympathetic to illegal drugs.”

Senate Majority Leader Chuck Schumer (D-NY), responding to McConnell’s criticism, said the cannabis reform has “bipartisan support” and is “a priority for me.”

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