In a historic move, the Senate Banking Committee on Wednesday approved a bill that would make it easier for banks to serve state-legal cannabis businesses, positioning the legislation for a potential vote in front of the full Senate.
Committee members voted 14-9 to pass the Secure And Fair Enforcement Regulation Banking Act, a revised version of the SAFE Banking Act that lawmakers say addresses social equity concerns and government overreach, in addition to providing protections for banks that serve marijuana-related businesses.
