Sundial Growers Inc (SNDL)

[meima1955]

As the newly titled SAFER Banking Act remains calendared for a committee markup at 9:30 a.m. Sept. 27, the center of attention this past week has been on revised language following months of negotiations in the U.S. Senate.

But perhaps most iconic about recent movement on the Secure and Fair Enforcement Regulation (SAFER) Banking Act of 2023 (S. 2860)—with the word “regulation” added to the revised legislation that was formally introduced Sept. 20—is that fact that the upper chamber is taking the lead this time around and has navigated a path forward after years of no action.

In particular, the Senate Banking Committee appears to be on the eve of advancing the federal cannabis banking reform legislation with Majority Leader Chuck Schumer, D-N.Y., vowing to bring it to a full floor vote thereafter.