A marijuana banking bill that’s set for a Senate committee markup next week may have an updated title and several new provisions related to federal financial regulations, guidance and reporting requirements, according to a summary.
The title of the legislation is reportedly being extended by one word. The bill that’s being circulated ahead of the Senate Banking Committee vote is now being called the Secure and Fair Enforcement Regulation (SAFER) Banking Act.
Importantly, the summary, first reported by Politico, offers a first look at the types of compromises senators appear to have made in order to bolster bipartisan buy-in. Several new provisions are described under Section 10—a component of the reform that Republicans have strongly favored and certain Democrats opposed over concerns it could undermine broader banking regulations.
It’s not clear whether the summary represents the latest agreement, or where it originated from. Marijuana Moment was unable to immediately independently verify the document shared by Politico.
Representatives of the offices of Senate Banking Committee Chairman Sherrod Brown (D-OH), Senate Majority Leader Chuck Schumer (D-NY) and the lead sponsors of the bill, Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT) did not respond to requests for comment by the time of
Read full article on Marijuana Moment
