Cannabis News of Note for the Week:
Politico Pro Cannabis Newsletter for 1/5/24: SAFE Banking Update (paywalled newsletter, text below)
Cannabis Reports of Note for the Week:
Meanwhile on Capitol Hill, more important members of the House Financial Services Committee are leaving at the end of this year. Rep. Blaine Luetkemeyer (R-Mo.), the chief architect of language in the cannabis banking bill that would prohibit banks from refusing to serve certain businesses like gun manufacturers, says he will not run for reelection.
Luetkemeyer is part of the hold-up on the Senate’s version of the cannabis banking bill. After the upper chamber issued a new version of the bill this past fall, Luetkemeyer immediately voiced his displeasure with changes to his language — saying it will not pass the House as it is written in the Senate.
In December, negotiations over the language were still ongoing. Luetkemeyer joins Financial Services Committee Chair Patrick McHenry (R-N.C.) and Blumenauer as two House members involved in the future of the cannabis banking bill who will not be here come January 2025.