SAFE BANKING ACT HEARING THURSDAY -- Thu., May 11 brings a critical hearing on Sen. Jeff Merkley's re-introduced SAFE Banking act, aka, S. 1323, co-sponsored by Montana Senator Steve Daines(R). Live streaming of the Senate Banking, Housing and Urban Affairs committee hearing starts at 9:50am ET at https://www.banking.senate.gov/hearings/examining-cannabis-banking-challenges-of-small-businesses-and-workers -- "Examining Cannabis Banking Challenges for Small Business and Workers."
The surprise hearing comes as the banking committee also grapples with budget deficit worries and regional bank meltdowns-- but is a welcome sign--and puts more importance on next week's NCIA's 11th Lobby Days, May 16-18, bringing hundreds of MJ professionals to share industry concerns in Congress. Register at:
Senate hearing witnesses will be:
Ademola Oyefeso, Int’l Vice President and Director of Legislative and Political Action Dept., United Food and Commercial Workers Union (UFCW);
Michelle Sullivan, Chief Risk & Compliance Officer, Dama Financial;-
Kevin Sabet, PhD., President and CEO, Smart Approaches to Marijuana;
and Cat Packer, Vice Chair, Cannabis Regulators of Color Coalition.
MJ Advocates Hope: If the S.1323 is voted out of committee Thursday, it could set up a full Senate floor vote in July. Senate leader Sen. Chuck Schumer (D-NY) expects other social justice and expungement language to be added before then. The bill has previously passed the House six times, so a fall vote could again ratify a SAFE-Plus measure, with fingers crossed of garnering President Joe Biden's signature. Can it happen? Listen to the "Trade-To-Black" podcast with guest Rob Sechrist, principal of Pelorus Equity Group at: https://www.youtube.com/watch?v=67USISZoaDs
Below: Banking chair Sen. Sherrod Brown(D-Ohio) will co-host the hearing with ranking vice-chair Sen. Tim Scott (R-SC). Six important Republicans are also co-sponsors of SAFE act, and deserve special thanks from the industry. They are Sen. Bill Cassidy(R-Louisiana), Kentucky's Sen. Rand Paul, both of Alaska's Senators Lisa Murkowsky and Dan Sullivan-- and two co-sponsors who sit on the banking committee: Sen.Cynthia Lummis(WY) and Sen. Kevin Cramer (ND). Please share MCBA's Twitter handle with your associates: hashtag #SAFECantWait.t.