Bloomberg Law
March 23, 2023, 1:00 PM

Pot Banking Bill Becomes Temporary Casualty in Financial Turmoil

Jarrell Dillard
Jarrell Dillard
Bloomberg News

Legislation to open banking services to marijuana businesses has become a casualty — at least for now — of the financial turmoil brought on by the collapse of Silicon Valley Bank and Signature Bank.

Senate Banking Chairman Sherrod Brown is postponing hearings on the bipartisan SAFE Banking Act so his panel can focus instead on the congressional response to the bank failures.

“I want to do SAFE Banking,” Brown said, adding that he had discussed the issue with Majority Leader Chuck Schumer. “But this is clearly more important.”

“It doesn’t mean long-term delay, but it means delays a couple ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.