Cannabis Banking Bill Faces 1st Hurdle In GOP-Led Senate

By Sam Reisman (December 18, 2019, 7:14 PM EST) -- A key Republican lawmaker said Wednesday that he wants to make changes to a bill that would expand banking access for state-legal marijuana businesses, potentially pumping the brakes on reform that both the cannabis and banking industries say is desperately needed.

Senate Banking Committee Chairman Mike Crapo, R-Idaho, said in a statement Wednesday that he did not support the version of the SAFE Banking Act that overwhelmingly passed the House of Representatives in September, and that additions to the legislation were necessary.

"I have significant concerns that the SAFE Banking Act does not address the high-level potency of marijuana, marketing tactics...

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