Democratic Senator Unsuccessfully Attempts To Add Marijuana Banking Bill Provision To Financial Regulations Proposal

Main Hemp Patriot
1 Min Read

A Democratic senator unsuccessfully attempted to attach a key provision of a marijuana banking bill—but not one that would’ve actually helped the cannabis industry access financial services—to a broader bill focused on the problem of debanking.

At a Senate Banking Committee hearing on Thursday, Sen. Jack Reed (D-RI) filed an amendment to incorporate Section 10 of the Secure and Fair Enforcement Regulation (SAFER) Banking Act to the underlying Financial Integrity and Regulation Management (FIRM) Act that the panel was considering.

The crux of the SAFER Banking Act is to prohibit federal regulators from penalizing financial institutions for simply working with the cannabis industry. But Section 10 would not on its own achieve that; rather, it broadly aims to prevent banking regulators from targeting certain controversial businesses such as those in the firearm industry.

The amendment “would place guardrails around the regulators’ use of reputational risk, without eliminating the concept entirely,” Reed said, adding that the measure “prevents debanking in a responsible way.”

Watch the discussion on the SAFER Banking Act amendment, starting around 3:00:58 into the video below:

The proposal failed in a party-line vote of 13-11. But for advocates and stakeholders, there’s greater disappointment that neither Reed nor any

Read full article on Marijuana Moment

Sale! bongs and pipes for smoking weed

Multi-Colored Water Smoking Pipe Bong

Original price was: $19.99.Current price is: $14.99. This product has multiple variants. The options may be chosen on the product page
Sale! metal pipes for smoke weed

1pc Colored Metal Pipe with Spring and Small Cleaning Brush

Original price was: $14.99.Current price is: $9.99. This product has multiple variants. The options may be chosen on the product page
-25 glass bongs

Pineapple Gravity Metal Glass Arabian Hookah Smoking Bong

Original price was: $199.99.Current price is: $149.99.
-25 bongs and pipes for smoking weed

Mini Smoking Metal Acrylic Water Pipe

Original price was: $19.99.Current price is: $14.99.


-25 glass bongs

Pineapple Gravity Metal Glass Arabian Hookah Smoking Bong

Original price was: $199.99.Current price is: $149.99.
Sale! glass bongs

Patriots Hemp Double Hose Glass Hookah Large Bowl Smoking Water Pipe Bong

Original price was: $39.99.Current price is: $24.99. This product has multiple variants. The options may be chosen on the product page
Sale! bongs and pipes for smoking weed

Multi-Colored Water Smoking Pipe Bong

Original price was: $19.99.Current price is: $14.99. This product has multiple variants. The options may be chosen on the product page
-30 glass bongs

Pot Weed Bong Pipe Glass Silicone Burner Bowl

Original price was: $19.99.Current price is: $13.99.




Share This Article
Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *