Last week, a coalition of trade associations sent a letter to Senate Banking Committee leadership, Chair Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio), urging a vote on legislation to protect financial institutions that service state-legal marijuana businesses.
The organizations, including the American Bankers Association and Credit Union National Association, said in the letter that advancing the Secure and Fair Enforcement (SAFE) Banking Act or similar legislation is pivotal to ensuring that stakeholders receive needed clarity and are shielded from being penalized by federal regulators. Senator Crapo had previously expressed his interest in holding a vote on the cannabis banking issue before the end of 2019, but this did not come to fruition.
No such vote has been scheduled for 2020 either, preassembly due to the impending impeachment trial in the Senate.