In a letter to the heads of the financial regulatory agencies on Friday, the American Bankers Association called for greater clarification on how banks may serve businesses dealing with hemp.
The Congressional Budget Office on Friday released its cost estimate for H.R. 1595, the ABA-backed SAFE Banking Act that would allow banks to serve legitimate cannabis businesses in states that have legalized the drug.
The 51 state bankers associations today urged the Senate Banking Committee to hold hearings on legislative solutions to the conundrum faced by banks in states where marijuana has been legalized.
In letter to congressional leaders today, a bipartisan group of 38 state attorneys general urged lawmakers to advance legislation allowing banks to serve marijuana-related businesses in states where the drug is legal.
In a letter to Senate members on Friday, ABA offered support for S. 1200, the Secure and Fair Enforcement Banking Act—a bipartisan Senate bill introduced by Sens. Jeff Merkley (D-Ore.) and Cory Gardner (R-Colo.) that would enable financial services for legitimate cannabis-related businesses.
Sens. Cory Gardner (R-Colo.) and Elizabeth Warren (D-Mass.) and Reps. Earl Blumenauer (D-Ore.) and David Joyce (R-Ohio) today introduced the States Act, a bipartisan bill that aims to resolve the conflict between state and federal laws on marijuana.
Tune in for Maxine Waters on cannabis banking and housing finance reform; Mike Crapo on housing finance reform and data security; Kevin Hassett on his 3% economic growth projection for 2019; and three Federal Reserve presidents on the role bankers play in Fed governance.
In remarks at the American Bankers Association Washington Summit today, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) previewed several policy initiatives that the committee will pursue under her leadership, including housing reform, cannabis and Bank Secrecy Act/anti-money laundering reform.
By a vote of 45 to 15, the House Financial Services Committee today advanced the American Bankers Association-backed Secure and Fair Enforcement Banking Act, which would address the issue of providing financial services to cannabis-related businesses.
Ahead of tomorrow’s markup of the bipartisan Secure and Fair Enforcement Banking Act—which would address the issue of providing financial services to cannabis-related business—the American Bankers Association wrote to members of the House Financial Services Committee today in support of the bill.