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Federal lawmakers are inching closer to a deal on legislation that could include cannabis banking reform, a leading House Democrat says.

Now is the time for Congress to finally pass the SAFER Banking Act, Rep. Maxine Waters of California, the leading Democrat on the House Financial Services Committee, said Wednesday during an interview with Bloomberg Television.

Negotiations between Waters and North Carolina Republican Rep. Patrick McHenry, the committee chair, will soon yield a compromise on cryptocurrency regulation, Waters said.

And theres support across Congress for tucking marijuana banking reform into a cryptocurrency-related bill all of which could then be tacked onto a must-pass Federal Aviation Administration spending bill.

That bill must be renewed by May 10.

If finally passed by both chambers of Congress and signed into law by President Joe Biden, the SAFER Banking Act would bar federal regulators from punishing financial institutions for doing business with state-licensed marijuana firms.

Ohio Democratic Sen. Sherrod Brown, the chair of the Senate Banking Committee, has indicated support for including cannabis banking reform in other banking bills, including stablecoin regulation.

Earlier versions of the SAFER Banking Act have passed the House while under Democratic control, but they have stalled in the full Senate.

The bill was heard in a Senate committee last fall, but Majority Leader Chuck Schumer did not call the bill for a full floor vote.

It remains far from clear whether the bill has the necessary 60 votes to pass the full Senate.

Republicans such as Minority Leader Mitch McConnell, who put the kibosh on efforts to bundle cannabis banking with a defense-spending bill in December 2022, are likely still opposed, Waters said.

Passing SAFER Banking remains a top priority, Schumer said Tuesday during a media briefing, according to Marijuana Moment.

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'Now is the time' for cannabis banking reform, key Democrat says - Marijuana Business Daily

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OPINION

April 24, 2024 at 3:15 a.m.

by Rex Nelson

My best days on Capitol Hill in Washington, D.C., in the 1980s were the slow days.

I was Washington correspondent for the Arkansas Democrat, and the newspaper war back in Little Rock had heated up.

Read the rest here:
OPINION | REX NELSON: Arkansas came first | Arkansas Democrat Gazette - Arkansas Online

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OPINION

April 24, 2024 at 3:15 a.m.

by Rex Nelson

My best days on Capitol Hill in Washington, D.C., in the 1980s were the slow days.

I was Washington correspondent for the Arkansas Democrat, and the newspaper war back in Little Rock had heated up.

Read more here:
OPINION | REX NELSON: Arkansas came first | Arkansas Democrat Gazette - Arkansas Online

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Federal lawmakers are inching closer to a deal on legislation that could include cannabis banking reform, a leading House Democrat says.

Now is the time for Congress to finally pass the SAFER Banking Act, Rep. Maxine Waters of California, the leading Democrat on the House Financial Services Committee, said Wednesday during an interview with Bloomberg Television.

Negotiations between Waters and North Carolina Republican Rep. Patrick McHenry, the committee chair, will soon yield a compromise on cryptocurrency regulation, Waters said.

And theres support across Congress for tucking marijuana banking reform into a cryptocurrency-related bill all of which could then be tacked onto a must-pass Federal Aviation Administration spending bill.

That bill must be renewed by May 10.

If finally passed by both chambers of Congress and signed into law by President Joe Biden, the SAFER Banking Act would bar federal regulators from punishing financial institutions for doing business with state-licensed marijuana firms.

Ohio Democratic Sen. Sherrod Brown, the chair of the Senate Banking Committee, has indicated support for including cannabis banking reform in other banking bills, including stablecoin regulation.

Earlier versions of the SAFER Banking Act have passed the House while under Democratic control, but they have stalled in the full Senate.

The bill was heard in a Senate committee last fall, but Majority Leader Chuck Schumer did not call the bill for a full floor vote.

It remains far from clear whether the bill has the necessary 60 votes to pass the full Senate.

Republicans such as Minority Leader Mitch McConnell, who put the kibosh on efforts to bundle cannabis banking with a defense-spending bill in December 2022, are likely still opposed, Waters said.

Passing SAFER Banking remains a top priority, Schumer said Tuesday during a media briefing, according to Marijuana Moment.

Read more:
'Now is the time' for cannabis banking reform, key Democrat says - Marijuana Business Daily

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Friends and neighbors,

By now you have probably heard about the troubling situation involing Democrat Senator Nicole Mitchell of Woodbury, who was recently arrested and charged with first-degree burglary.

If you havent followed the story, here is what happened: In the early hours of April 22, police responded to a break-in at a residence in Detroit Lakes, where Senator Mitchell was apprehended in the act of unlawfully entering her stepmothers home. According to the criminal complaint, she admitted to officers on the scene that she did something bad.

Senator Mitchells statements over the past couple of days conflict with the criminal complaint and with statements by the stepmother:

You can read the criminal complaint yourself here.

This serious felony charge compels us to uphold the highest standards of ethical conduct expected of all Senate members. So far, Senate Democrats have refused to acknowledge the severity of Senator Mitchells conduct, ask for her resignation, or remove her from committee positions.

Therefore, Senate Republicans have taken a couple of steps to defend the integrity of Senate and seek answers for the public.

First, we have filed an ethics complaint against Senator Mitchell, outlining a number of rules violations.

Second, we made a motion during Wednesdays floor session to immediately launch an investigation into Senator Mitchells conduct based on the ethics complaint. Democrats voted down our efforts to begin this investigation.

While Senator Mitchell has every right to due process and remains innocent until proven guilty, it is our duty as elected officials to respond decisively when public trust is compromised. Senators are held to a higher ethical standard. We must urgently address any actions that might harm the integrity of the Senate.

If you have any questions about this situation, please let me know. I will provide updates as we learn more.

Sincerely,

Bill

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Lieske: Update on Democrat senator charged with felony burglary Minnesota Senate Republicans - Minnesota Senate Republican Caucus

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