🧵 1. Senate Committee passes SAFER Banking Act, marking first Senate approval of bill allowing banks to work with cannabis businesses #politics
🧵 1. Senate Committee passes SAFER Banking Act, marking first Senate approval of bill allowing banks to work with cannabis businesses #politics
🧵 2. If signed into law, the bill would lift banking ban for legal cannabis businesses, reducing cash-only operations and vulnerability to crime
🧵 3. Industry leaders applaud Senate Committee's passage, citing clarity, security, and access to capital as benefits for state-sanctioned marijuana businesses
🧵 4. Medical cannabis sector expects transformative growth with SAFER Banking Act, overcoming financial hurdles and regulatory ambiguities
🧵 5. Now, the bill heads to the Senate and House for further debate and amendments before potentially reaching President Biden's desk for final approval
🧵 Read more at: https://www.forbes.com/sites/irisdorbian/2023/09/27/senate-committee-passes-cannabis-banking-bill/