In his weekly Dear Colleague letter, Senate Majority Leader Chuck Schumer (D-NY) renewed his call to pass a cannabis banking bill before the legislative period runs out.

"In the remaining months of this year, we also have an opportunity to advance legislation on a number of critical issues: lowering the cost of insulin and prescription drugs, safeguarding cannabis banking..." Schumer said in his Friday letter, first reported by Politico.

Schumer has consistently regarded the Secure and Fair Enforcement (SAFE) Banking Act as a legislative priority though he's acknowledged that achieving it "will not be easy", especially without Republican support. 

“Passing these bills will not be easy, and we will depend on the cooperation of our Republican colleagues to get any of them done,” Schumer said in a July 9 Dear Colleague letter.

But Now With Changes In The Wind?

Among other banking and financial issues that burden the legal cannabis industry, the onerous 280E IRS code which prohibits cannabis dispensaries and other businesses from being able to take tax deductions could go away.  

All information is available on bzcannabis.com Benzinga Cannabis Capital