Announcements

Vacancies

Top 5 - yesterday

Top 5 - last week

Top 5 - last month

US: Banking bill on hold as Senate deals with financial chaos

Legislation to open banking services to cannabis 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 of weeks.”

The decision by Brown, an Ohio Democrat, is the latest setback for advocates of the bill, which would prohibit federal banking regulators from penalizing banks and other depository institutions for providing banking services to cannabis businesses.

Read more at crainsnewyork.com


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.