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Top Senate Democrat Schumer Says Marijuana Banking Bill Isn’t Enough Reform

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The U.S. Senate’s top Democrat said on Thursday that Congress should go much further in enacting federal marijuana reform than just passing a cannabis banking bill.

“We need decriminalization at the federal level, criminal justice reform, and investment in opportunity for minority & women-owned small businesses,” he tweeted, noting that a number of civil rights groups are asking House leaders to hold off on a planned vote on the financial services legislation

Those organizations—the ACLU, Human Rights Watch and Drug Policy Alliance, among others—are concerned that if lawmakers pass a cannabis banking bill it will undermine efforts to pass broader legislation ending federal marijuana prohibition and taking steps to repair the harms of the war on drugs.

Schumer’s post, in which he quote-tweeted a Marijuana Moment story about a letter the organizations wrote to House leaders urging a delay on the vote, also mentioned Rep. Alexandria Ocasio-Cortez (D-NY), who on Thursday indicated she agrees with the groups’ concerns.

“@RepAOC and these civil rights groups are right,” the top Senate Democrat wrote.

While Schumer didn’t say explicitly that the banking vote should be called off until broader reform is passed—instead just tweeting that Congress shouldn’t just enact it “alone and think the job is done”—he did say that groups who are pushing for such a delay are “right.”

House Majority Leader Steny Hoyer (D-MD) announced last week that he intends to bring the legislation to the floor by the end of this month. Leaders plan to advance the proposal under an expedited procedure called suspension of the rules, through which a two-thirds majority—or 290 votes—is needed to pass.

Already, 206 cosponsors have proactively signed onto the legislation, and Rep. Ed Perlmutter (D-CO), the chief sponsor of the Secure and Fair Enforcement (SAFE) Banking Act moved to amend the legislation in an attempt to bring in even more GOP votes.

The congressman plans to make a series of changes to the bill—including clarifying that banking protections would apply to hemp and CBD companies and also prevent financial regulators from targeting certain industries such as firearms dealers as higher risk for fraud—in order to bolster its Republican appeal. That said, the legislation is already viewed as largely bipartisan.

The bill is believed to face a tougher road in the Senate, however, where Schumer’s counterpart, Majority Leader Mitch McConnell (R-KY), excitedly shepherded hemp legalization to enactment last year but regularly says he doesn’t support the crop’s “illicit cousin” marijuana.

That said, Senate Banking Committee Chairman Mike Crapo (R-ID) surprised observers when he said this month that he planned a vote on cannabis banking legislation in his panel by the end of the year.

Rep. Maxine Waters (D-CA), chair of the House Financial Services Committee, told Marijuana Moment that while she recognizes concerns outlined by advocacy groups calling for a delay on a marijuana banking vote, Judiciary Chairman Jerrold Nadler (D-NY) has yet to advance his wider-ranging legalization bill, tying the hands of House Democrats.

“[W]hat’s going to happen is Mr. Perlmutter’s bill that gives safe harbor to the banks is going to move, and whenever Judiciary gets that bill done, then it’s going to move too with the same kind of support that Mr. Perlmutter’s bill is going to get,” she said.

Sen. Kamala Harris (D-CA) is leading the companion version of the broader marijuana reform legislation in the Senate.

The Leadership Conference on Civil and Human Rights, one of the groups that signed the letter calling on House leaders to pull the planned banking vote, thanked Schumer for his comment, stating that “Congress needs to address marijuana prohibition holistically and inclusively by considering” broader reform legislation.

Schumer, for his part, filed a separate bill in May that would federally deschedule cannabis and promote participation in the industry by individuals from communities negatively impacted by prohibition.

These New Marijuana Banking Bill Amendments Could Help Win GOP Support

Photo courtesy of Senate Democrats.

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.

Tom Angell is the editor of Marijuana Moment. A 20-year veteran in the cannabis law reform movement, he covers the policy and politics of marijuana. Separately, he founded the nonprofit Marijuana Majority. Previously he reported for Marijuana.com and MassRoots, and handled media relations and campaigns for Law Enforcement Against Prohibition and Students for Sensible Drug Policy. (Organization citations are for identification only and do not constitute an endorsement or partnership.)

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Trade Associations And Civil Rights Groups Send Mixed Messages On Marijuana Banking To Senate

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A coalition of trade associations sent a letter to Senate Banking Committee leadership on Thursday, urging a vote on legislation to protect financial institutions that service state-legal marijuana businesses.

But those senators are also feeling pressure from leading civil rights groups like the ACLU and Human Rights Watch, which sent an earlier letter insisting that they not allow cannabis banking to detract from more comprehensive reform that addresses social equity.

The organizations involved in the latest letter—including the American Bankers Association and Credit Union National Association—said that advancing the Secure and Fair Enforcement (SAFE) Banking Act or similar legislation is pivotal to ensuring that stakeholders receive needed clarity and are shielded from being penalized by federal regulators.

The letter, addressed to Banking Chair Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH), emphasized the bipartisan nature of the House passage of the bill in September and the growing movement at the state level to legalize cannabis for medical or recreational purposes.

“Our organizations support an initial legislative step that allows the legal cannabis industry into the banking system,” the groups, which also include the Council of Insurance Agents and Brokers, International Council of Shopping Centers and National Association of REALTORS, wrote. “Ultimately, protecting law-abiding financial institutions and ancillary businesses from their currently untenable position and addressing increasing public safety concerns.”

As more states reform their marijuana laws, however, “distribution, sale, possession, research, transaction, housing, employment, and a broader landscape of cannabis is becoming increasingly problematic” for stakeholders under federal prohibition.

“Ultimately, this creates more legal and security concerns that impact the operations and safety of businesses and consumers,” they said. “Finally, the lack of an available safe harbor for cannabis will continue to challenge the full adoption and deployment of the legal hemp and CBD products market in the U.S. due to the inextricable link between hemp and cannabis.”

“To resolve this, we urge the Committee to vote on the SAFE Banking Act or similar measures. Such measures are meant to create a safe harbor for depository institutions that provide a financial product or service to businesses in a state permitting the use of cannabis. A safe harbor will enable law enforcement and states to effectively monitor and regulate businesses while simultaneously bringing billions into the regulated banking sector.”

The letter, also signed by Americans for Prosperity and R Street, recognizes that creating a federal regulatory scheme for marijuana will take time but says that the SAFE Banking Act represents “a critical first step to ensure that legal cannabis marketplaces are safe, legal, and transparent.”

Crapo has said that he’s interested in holding a vote on resolving the cannabis banking issue in his panel before the year’s end, but so far nothing has been scheduled. The chairman told Marijuana Moment in earlier interviews that there are several changes to the House-passed bill that he’d like to see but that he’s worried impeachment proceedings against the president will interfere with plans to hold a vote.

All that said, pressure from civil rights advocacy groups could complicate congressional efforts to get the banking bill approved. In October, several organizations including the ACLU, Drug Policy Alliance, Human Rights Watch and Center for American Progress sent a letter to Senate leadership, as well as Crapo and Brown, demanding that “marijuana legislation considered in the Senate include provisions that will guarantee equity in the industry.”

The letter, which doesn’t appear to have been previously reported and was obtained by Marijuana Moment, states that while the coalition agrees the SAFE Banking Act “is an incremental step toward rolling back the federal prohibition of marijuana, it fails to help communities that have been historically and disproportionately devastated by United States’ punitive drug laws.”

“As the Senate Committee on Banking, Housing, and Urban Affairs considers similar legislation, we insist that the legislation include provisions that ensure equity in the marijuana industry by creating opportunities for individuals who have been prohibited from this growing business either by legal or financial means,” the letter, which was also signed by the Immigrant Legal Resource Center, Leadership Conference on Civil and Human Rights and National Association of Social Workers, states.

“Indeed, this Congress has shown it understands the economic impact of legalization. But while progress on the business side of legalization is promising, it is not sufficient. Federal marijuana legislation must be comprehensive and lead with equity, addressing past and current harms to communities of color and low-income communities who bore the brunt of the failed war on drugs. We demand that any marijuana reform or legalization bill considered by the Senate] include robust provisions addressing equity. More than simply adding equity provisions to bills that address industry concerns, we need comprehensive reform that deschedules marijuana and addresses the inequities and harms continually inflicted by the failed war on drugs.”

In other words, the groups are insisting on broad reform prior to a vote on a bill viewed as largely beneficial to the cannabis industry—similar to a request they made of House members prior to the legislation’s passage in the chamber.

Read the marijuana banking letters from the trade associations and civil rights groups below:

Industry SAFE Senate Bankin… by Marijuana Moment on Scribd

Senate Leadership Letter Re… by Marijuana Moment on Scribd

Senators Demand Update From DEA On Marijuana Growing Applications

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.
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GOP Congressman Knocks His Party For Failing To Pass Marijuana Reform

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A Republican congressman says that whichever party is responsible for passing federal marijuana reform will “instantly” shoot up in the polls, while lamenting the fact that the GOP failed to do so when they controlled the House.

Rep. Thomas Massie (R-KY), a vocal advocate for hemp, was asked by Fox Business host Kennedy on Wednesday whether cannabis should be rescheduled under federal law.

“Absolutely,” he said. “The first party that does this—and I don’t understand why either party won’t do it—is going instantly gain 10 points in the general poll on which party versus the other.”

“We should have done it when we were in the majority,” he added. “The liberals should be asking Pelosi why she hasn’t put it on the floor yet.”

The House Judiciary Committee approved legislation last month to end federal marijuana prohibition, but it hasn’t yet been scheduled for floor action.

Massie made similar points during an interview with Marijuana Moment earlier this year, stating that if Republicans had advanced states’ rights-focused marijuana legislation, “I think we might still be in the majority.”

Of course, while Massie has supported legislation to allow states to set their own cannabis policies without federal intervention, as well as other more modest reform measures such as protecting banks that service marijuana businesses, he’s so far declined to cosponsor any bills that seek to deschedule cannabis.

The congressman has also expressed interest in changing federal gun control laws to allow cannabis consumers to purchase firearms.

Though it’s not clear exactly how much of a boost either party would get by passing a marijuana reform bill, a Pew poll released last month does show that there’s majority support for legalization among those who lean Republican (55 percent) as well those who lean Democratic (78 percent).

Senators Demand Update From DEA On Marijuana Growing Applications

Photo courtesy of YouTube/Rep. Massie.

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.
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State Department Warns Travelers About Flying With Cannabis Oil Internationally

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The U.S. State Department is warning international holiday travelers that while hemp-derived CBD might be legal in the U.S., it can land you in trouble if you take it certain places abroad.

“Make sure your gift isn’t a fa la la la la la la la la fail,” the department said in a tweet on Thursday. “Bringing along gifts like drones, CBD oils, and firearms can land you in trouble in foreign countries. Research what is and isn’t allowed before you travel.”

Please visit Forbes to read the rest of this piece.

(Marijuana Moment’s editor provides some content to Forbes via a temporary exclusive publishing license arrangement.)

MLB Officially Removes Marijuana From Banned Substances List For Baseball Players

Photo courtesy of Flickr/DHS.

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.
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