Marijuana banking measure defeated; Fed Chair talks cannabis money; House reso calls for drug war apology

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We monitored 11 hours—of two separate congressional hearings—to bring you today’s lead stories. Estimated read time for you to get up to speed: 7 minutes.



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/ TOP THINGS TO KNOW



The U.S. Senate Agriculture, Nutrition and Forestry Committee approved the Farm Bill, which includes language to legalize hemp. Senate Majority Leader Mitch McConnell (R-KY) and Sen. Charles Grassley (R-IA) had a testy exchange about an amendment Grassley introduced, but did not force a vote on, which would have gutted the intent of the hemp provisions.



The U.S. House Appropriations Committee rejected an amendment to protect banks that work with marijuana businesses from being punished by federal authorities.

In a related development, Federal Reserve Chairman Jerome Powell said current law “puts federally chartered banks in a very difficult situation… It would great if that could be clarified.”

Members of the U.S. House filed a resolution demanding an apology for the failed and racially discriminatory war on drugs.



/ FEDERAL



The U.S. Drug Enforcement Administration has been seizing hemp-derived CBD products. Separately, DEA spokeswoman reportedly said that the agency would reschedule CBD if Epidiolex is approved by the Food and Drug Administration.



U.S. Sens. Elizabeth Warren (D-MA), Kirsten Gillibrand (D-NY) and Kamala Harris (D-CA) spoke about legalizing marijuana at a conference.



Congressman Andy Harris (R-MD) dismissively rejected a question from a constituent about hemp nutritional supplements.



U.S. Sen. Brian Schatz (D-HI) tweeted, “North Korea is still a nuclear threat. Children should not be separated from their parents. Everyone likes net neutrality except congressional Republicans. Where medical marijuana is available, opioid use goes down. VOTE!”



The U.S. House bill to respect state marijuana laws got two new cosponsors, for a total of 19.



The U.S. House bill to protect hemp growers’ water rights got one new cosponsor, for a total of nine.



/ STATES



Alaska regulators discussed, but did not act on, the idea of taxing marijuana based on potency.



A Massachusetts commission focused on preventing drug-impaired driving met for the first time, just two weeks ahead of the launch of marijuana legalization.



New Mexico regulators plan to appeal a court ruling that reduced the penalty applied to a medical cannabis producer that displayed a marijuana plant at the State Fair.



Some Florida medical cannabis advocates are skeptical of Democratic gubernatorial candidates’ pledges to legalize marijuana.



A Missouri representative running for state Senate said he would sponsor marijuana decriminalization legislation if elected.



Ohio regulators have now approved 139 doctors to certify medical cannabis.



/ LOCAL



Denver, Colorado is using marijuana tax revenue to fund after-school and summer programs.



/ INTERNATIONAL



The Canadian House of Commons appears poised to reject several Senate-passed amendments to the government’s marijuana legalization bill, while accepting others. Prime Minister Justin Trudeau accused Conservative lawmakers of trying to delay the bill from passing. The government’s point man on marijuana said officials are in talks with U.S. counterparts to discuss border issues that could arise from legalization. Separately, the government set aside $223,000 in funding “to support frontline workers in informing Canadians about cannabis health and safety.”



The Israeli government’s delay in finalizing rules for medical cannabis exports is causing problems for businesses.



/ ADVOCACY



The Community Bankers of America endorsed pending congressional legislation to protect banks that serve the marijuana industry.



An activist with prohibitionist group Smart Approaches to Marijuana confronted U.S. Sen. Cory Gardner (R-CO) about his support for cannabis reform legislation. The group also cheered the defeat of an amendment to allow marijuana businesses to access banks. And, they are dedicating June 26’s World Drug Day to “the millions of volunteers who advocate for wider awareness about the growing problem of marijuana.”



/ SCIENCE & HEALTH



A study found that “there is no association between cannabis use and suicidal behavior in men or women with psychiatric disorders unlike what was reported for the general population, though the heaviness of cannabis use may have an effect in men.”



/ OPINION & ANALYSIS



The Seattle Times editorial board is encouraged by President Trump’s remarks in support of congressional marijuana legislation.



The Toronto Star editorial board is encouraging the Canadian Senate to swiftly pass marijuana legalization as soon as it gets a revised bill from the House of Commons.



/ BUSINESS



(SPONSORED) Larry Sandell of Mei & Mark LLP provides an overview of what cannabis industry entrepreneurs need to know about protecting their intellectual property rights.



California marijuana industry watchers are anticipating summertime product shortages and price spikes as a result of impending new testing and packaging rules.



The Associated Press hosted a Twitter chat about covering marijuana news.



/ CULTURE



Comedian Dave Chappelle said marijuana legalization is an “inevitability” in a TV appearance with his friend Ben Jealous, a Maryland Democratic gubernatorial candidate.

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