Following last week’s passage of the Secure and Fair Enforcement (SAFE) Banking Act in the House, the Chairman of the bill’s committee of jurisdiction in the Senate — Chairman Sherrod Brown (D-Ohio) of the Senate Banking Committee — indicated that he is in no rush to consider the legislation. Senator Brown did not rule out moving the SAFE Banking Act but instead indicated that he needed more time to review it and assess his options. This stance does not represent a significant change in Senator Brown’s position. He has previously indicated that any cannabis banking legislation to pass through his committee must be included as part of a broader cannabis and criminal justice reform package and thus far, Republicans who have supported the SAFE Banking in the Senate have not done so as a means for a larger push for federal cannabis reform. At the same time, Senate Majority Leader Chuck Schumer (D-New York) continues to craft a comprehensive cannabis reform bill with Senators Cory Booker (D-New Jersey) and Ron Wyden (D-Oregon) which is expected to possibly incorporate elements from the SAFE Banking Act.
