This bill has gotten over a number of hurdles but faces (as advocates knew it would) tough sledding in the upper house of Congress, where Mitch McConnell's Senate has shown zero interest in any reform bill, not even one which doesn't change cannabis' illegal status.
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“The current predicament of a rapidly expanding national marketplace without access to the national banking systems has resulted in an untenable situation,” the officials wrote. “We stress that current legislative models are available to fix this situation.”
The argument from the attorneys general, which includes seven Republicans, flies in the face of criticism from GOP lawmakers, who have stated that the banking language included in House leadership’s latest COVID-19 package is not germane and is simply part of a liberal wish list.
The letter goes on to say that passing the Secure and Fair Enforcement (SAFE) Banking Act as part of coronavirus relief legislation would not represent an endorsement of cannabis legalization by Congress. “Rather, it reflects a recognition of the realities on the ground and an embrace of our federalist system of government that is flexible enough to accommodate divergent state approaches,” they said.
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So, and we could well be wrong, we think any real federal reform is unlikely until and unless there's a change in the makeup and management of the US Senate or signs of leadership from the administration
Note: Utah officials did sign on the legislation… …so props..!
A bipartisan coalition of 34 state and territory attorneys general are urging Congress to pass coronavirus relief legislation that includes language protecting banks that service marijuana businesses from being penalized by federal regulators. The case they lay out runs directly counter to seemingly…