SAFER Banking/NJ Cannabis Investments/Hilary Bricken's New Role/NY's Cannabis Advisers
In a historic vote, the U.S. Senate Banking, Housing, and Urban Affairs Committee advanced a bill aimed at increasing banking services to a cash-dependent cannabis industry.
September 28, 2023 at 03:45 PM
10 minute read
Higher Law
Welcome back to Higher Law, our weekly briefing on all things cannabis. I'm Cheryl Miller, reporting for Law.com from Sacramento.
This week we're looking at:
- A landmark vote on the SAFER Banking Act.
- A New Jersey cannabis investment law.
- Cannabis attorney Hilary Bricken's new role.
- New York's advisory board's frustration with regulators.
Thanks as always for reading. Got a story idea or feedback? You can send it all to me at [email protected]. You can also call me at 916.448.2935. Follow me on Twitter: @capitalaccounts.
Sen. Sherrod Brown, D-Ohio, speaking during a Senate Banking, Housing, and Urban Affairs Committee hearing. Photo: Diego M. Radzinschi/ALM 'A Big Deal': Senate Committee Advances Cannabis Banking Bill
It was a historic moment Wednesday when the U.S. Senate Banking, Housing, and Urban Affairs Committee approved the proposed Secure and Fair Enforcement Regulation Banking Act, legislation aimed at increasing cash-dependent cannabis operators' access to banks and credit unions.
The 14-9 vote marked the first time a Senate committee has advanced the bill, which, despite having passed seven times in the House of Representatives, has bogged down in recent years due to myriad senatorial concerns from political interests on the left and right.
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