Outlaw Report: Cannabis Caucus founder says ‘strong support’ growing in Senate for marijuana banking reforms

The Outlaw Report uses The LCB to break cannabis news on Capitol Hill.

You may soon be able to legally use your credit card to buy cannabis. That’s because momentum is building behind a measure to allow weed businesses access to basic financial services, like accepting credit cards or even opening a company bank account.

All eyes remain on the Senate, where the bipartisan and popular SAFE Banking Act has yet to even receive a vote. Senate Majority Leader Chuck Schumer and other Democrats have demanded criminal justice reform be a part of any cannabis normalization effort, but their blockade seems to be losing steam.

“There’s been fascinating support from a number of senators on the conference committee, which, as you know, has the SAFE Banking embedded in it,” Rep. Earl Blumenauer (D-OR) tells The Outlaw Report. “Looks good.”

Blumenauer is a co-chair of the Congressional Cannabis Caucus, but he’s also got a seat at the head negotiating table as a member of the conference committee on an innovation measure: the America COMPETES Act….

GO DEEPER: LCB founder Matt Laslo’s full cannabis and criminal justice reform piece is at The Outlaw Report.