As SAFE Banking Again Awaits Fate in Senate, Schumer Pushes More Comprehensive Reform

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On Friday, a complex juxtaposition arose as two very different types of federal cannabis reforms were in the spotlight, in D.C. and in New York.  

In Congress, the House passed the America COMPETES Act with Secure and Fair Enforcement (SAFE) Banking Act language tucked in, making it the sixth time the House put the cannabis banking Act in the hands of the Senate. Rep. Ed Perlmutter proposed the amendment to include language that protects financial institutions who want to serve cannabis businesses. Meanwhile, Senate Majority Leader Chuck Schumer held a news conference on Friday morning near the steps of New York City Hall to push support for a comprehensive and justice-focused approach to federal cannabis reform, along the lines of what his Cannabis Administration and Opportunity Act proposes. 

This juxtaposition is noteworthy considering Perlmutter and Schumer…

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