
Democratic Senate Majority Leader Chuck Schumer is actively working to secure Republican support for the long-awaited marijuana banking reform bill. Schumer has invested considerable political capital in advancing the SAFER Banking Act. The proposed legislation, if enacted, would prevent federal regulators from penalizing financial institutions for providing essential services like bank accounts, payroll services, and credit card transaction processing to marijuana businesses that are legal at the state level. The SAFER Banking Act underwent two Senate hearings this year, with approval during a significant… Read more.