Pot Banking Bill Gets New Introduction In Senate

By Sam Reisman (March 23, 2021, 5:23 PM EDT) -- Lawmakers have reintroduced a bipartisan federal bill to broaden cannabis companies' access to banks in both chambers of Congress, positioning the legislation as a boon for public safety and small businesses in the cannabis space.

Sens. Jeff Merkley, D-Ore., and Steve Daines, R-Mont., unveiled their U.S. Senate bill Tuesday, one week after its companion legislation, authored by Rep. Ed Perlmutter, D-Colo., made a splash in the U.S. House of Representatives.

The Secure and Fair Enforcement, or SAFE, Banking Act would shield from legal liability banks and other financial institutions that do business with state-legal cannabis entities, as well as ancillary companies...

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