The passage of federal cannabis banking reform is considered possible this year, provided it’s combined with an existing marijuana expungement bill, according to published reports.
According to Politico on Thursday, Senate Majority Leader Chuck Schumer recently had discussions with Ohio House Republican David Joyce about possibly combining the SAFE Banking Act with Joyce’s Harnessing Opportunities by Pursuing Expungement (HOPE) Act.
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The HOPE Act would direct funds to states for marijuana conviction-expungement efforts while SAFE Banking would enable financial institutions to provide traditional banking services to state-legal marijuana businesses.
Steve Hawkins, president and CEO of the U.S. Cannabis Council, told MJBizDaily earlier this year the HOPE Act might offer the criminal justice provisions that aren’t currently included in the SAFE Banking legislation but which are desired by Schumer and other progressives such as New Jersey Senator Cory Booker.
Saphira Galoob, principal and CEO of The Liaison Group, a cannabis lobbying
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