ICBA pressing cannabis banking, other priorities as Congress returns

With Congress returning to Washington this week for the final leg of the lame-duck session, ICBA is pushing several key legislative priorities and calling on community bankers to weigh in with lawmakers via ICBA’s Be Heard grassroots action center.

Cannabis Banking: As Politico reported, lawmakers are working to reach a compromise to pass the ICBA-advocated SAFE Banking Act—which would establish a cannabis banking safe harbor in states where cannabis is legal—by year-end. Community bankers can use Be Heard to urge passage.

Durbin Amendment: Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) are meanwhile working to advance their bill to extend the Durbin Amendment to credit cards. ICBA continues calling on community bankers to urge opposition to the bill, which would impose new costs, pose security risks, and end credit card rewards programs.

Lame-Duck Priorities: ICBA’s recent letter to congressional leaders lists its priorities for the remaining weeks of the 117th Congress, which also include advancing legislation to close the industrial loan company loophole, not hastily passing cryptocurrency legislation, opposing efforts to institute postal banking, and more.