{"id":12463,"date":"2023-09-16T09:47:55","date_gmt":"2023-09-16T09:47:55","guid":{"rendered":"https:\/\/prosfunds.com\/news\/cannabis-banking-bill-looks-poised-to-get-senate-committees-ok-on-sept-27\/"},"modified":"2023-09-16T09:47:56","modified_gmt":"2023-09-16T09:47:56","slug":"cannabis-banking-bill-looks-poised-to-get-senate-committees-ok-on-sept-27","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=12463","title":{"rendered":"Cannabis banking bill looks poised to get Senate committee\u2019s OK on Sept. 27"},"content":{"rendered":"
\n

The Senate Banking Committee looks set to vote in a week and a half to advance a much-anticipated\u00a0bill that aims to make it easier for the financial industry to work with cannabis companies.<\/p>\n

The committee\u2019s vote on the SAFE Banking Act is expected to take place on Sept. 27, according to a Politico report. Another report from Punchbowl News said that\u2019s the planned date for action, but the timing could shift a bit.<\/p>\n

\n

After the committee votes, the cannabis banking bill should have enough votes to pass in the full Democratic-run Senate, according to a separate report from NBC News.<\/p>\n

But leaders of the Republican-run House of Representatives are \u201ceither agnostic or opposed\u201d to the measure, a TD Cowen analyst has warned, and that \u201cmakes passage challenging, which is why the best window may be after next year\u2019s election,\u201d meaning potentially in December 2024.<\/p>\n

Last December, the cannabis banking bill\u00a0was left out\u00a0of a sprawling year-end package, a development\u00a0that weighed on pot stocks.<\/p>\n

On Friday, the AdvisorShares Pure U.S. Cannabis exchange-traded fund\u00a0
\n MSOS
\n \u00a0was up by 7%, while the ETFMG Alternative Harvest ETF
\n MJ
\n gained 4%. Shares of Tilray Brands
\n TLRY,
\n -1.68%<\/bg-quote>,<\/span>
\n Green Thumb Industries
\n GTBIF,
\n +3.12%<\/bg-quote>,<\/span>
\n Curaleaf\u00a0
\n CURLF,
\n -0.45%<\/bg-quote>
\n and Canopy Growth\u00a0
\n CGC,
\n +8.00%<\/bg-quote>
\n were also trading sharply higher.<\/p>\n

Steve Gelsi contributed.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Senate Banking Committee looks set to vote in a week and a half to advance a much-anticipated\u00a0bill that aims to make it easier for the financial industry to work with cannabis companies. The committee\u2019s vote on the SAFE Banking Act is expected to take place on Sept. 27, according to a Politico report. Another […]<\/p>\n","protected":false},"author":1,"featured_media":12464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-12463","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nCannabis banking bill looks poised to get Senate committee\u2019s OK on Sept. 27 | Prosfunds<\/title>\n<meta name=\"description\" content=\"The Senate Banking Committee looks set to vote in a week and a half to advance a much-anticipated\u00a0bill that aims to make it easier for the financial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=12463\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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