Schumer again calls for enactment of marijuana banking measure

Senate majority leader includes bill in letter sent to colleagues

Senate Majority Leader Charles Schumer, D-N.Y., said on Friday that he wants the Senate to tackle marijuana banking legislation during the next few months.

“In the weeks and months ahead, we have the opportunity to make progress on bipartisan bills that enhance our national security, advance online safety for kids and promote innovation, expand the Child Tax Credit, work on a path forward on Tik Tok legislation, combat the fentanyl crisis, hold failed bank executives accountable, address rail safety, ensure internet affordability, safeguard cannabis banking, outcompete the Chinese government, lower the cost of prescription drugs like insulin while expanding access to health care, and more,” Schumer wrote, in a “Dear Colleague” letter to senators on Friday.

Schumer said that with divided government, bipartisanship and compromise are the only ways to get things done. “Democrats have an ambitious agenda to help the American people, and if our Senate Republican colleagues are sincere about passing bipartisan legislation and willing to reject the extreme MAGA demands, we are ready to work with them to find compromise and get as much done as we can,” he wrote.

The bill, S. 2860, would provide credit unions and banks with a regulatory safe harbor for conducting business with marijuana-related businesses in states where cannabis is legal.


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