Full Committee Hearing

Examining Cannabis Banking Challenges of Small Businesses and Workers

Date:   Thursday, May 11, 2023 Time:   09:45 AM Location:   Dirksen Senate Office Building 538

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Topic

THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in Executive Session to VOTE on the following nominations: Dr. Jared Bernstein, of Virginia, to be Chairman of the Council of Economic Advisers, Executive Office of the President; Dr. Ron Borzekowski, of Maryland, to be Director of Financial Research, Department of the Treasury; Mr. Solomon Jeffrey Greene, of the District of Columbia, to be an Assistant Secretary of Housing and Urban Development, Department of Housing and Urban Development; and Mr. David Uejio, of California, to be Assistant Secretary of Housing and Urban Development, Department of Housing and Urban Development. Following the Executive Session, the Committee will meet in OPEN SESSION to conduct a hearing entitled, “Examining Cannabis Banking Challenges of Small Businesses and Workers.” The witnesses on Panel I will be: The Honorable Jeff Merkley, United States Senator (D-OR); and The Honorable Steve Daines, United States Senator, (R-MT). The witnesses on Panel II will be: Mr. Ademola Oyefeso, International Vice President and Director of Legislative and Political Action Department, United Food and Commercial Workers International Union (UFCW); Ms. Michelle Sullivan, Chief Risk & Compliance Officer, Dama Financial; Dr. Kevin Sabet, PhD., President and CEO, Smart Approaches to Marijuana, and Fellow, Yale University; and Ms. Cat Packer, Vice Chair, Cannabis Regulators of Color Coalition.

All hearings are webcast live and will not be available until the hearing starts. Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the committee clerk at 202-224-7391 at least three business days in advance of the hearing date.

Member Statements

  1. Chairman Sherrod Brown (D - Ohio)
  2. Ranking Member Tim Scott (R - South Carolina)

Witnesses

Panel I

  1. The Honorable Jeff Merkley
    United States Senator
    (D-OR)
  2. The Honorable Steve Daines
    United States Senator
    (R-MT)

Panel II

  1. Mr. Ademola Oyefeso
    International Vice President and Director of Legislative and Political Action Department
    United Food and Commercial Workers International Union (UFCW)
  2. Ms. Michelle Sullivan
    Chief Risk & Compliance Officer
    Dama Financial
  3. Dr. Kevin Sabet
    PhD., President and CEO, and Fellow
    Smart Approaches to Marijuana, Yale University
  4. Ms. Cat Packer
    Vice Chair
    Cannabis Regulators of Color Coalition