The Senate Banking Committee led by Ohio Senator Sherrod Brown, Committee Chair,  heard testimony on the SAFE Banking Act Thursday for nearly two hours before adjourning without a vote.

Opening the hearing were Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT) who refiled the banking measure in April.

Under the proposed bill, financial institutions would be allowed to provide banking and financial services to legal cannabis businesses. 

Senators Chuck Schumer, Ron Wyden (D-OR) and Cory Booker (D-NJ), who released a joint statement after the meeting, praised “key improvements” in the banking proposal and stressed the need for additional equity provisions such as expungement as the bill advances, reported Marijuana Moment.

Others who testified on Thursday expressed the same sentiment. 

Ademola Oyefeso, director of the United Food and Commercial Workers’ political action …

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