Senate Advances Marijuana Banking Bill

A marijuana banking bill that has earned the support of a bipartisan group of lawmakers has been advanced through the U.S. Senate banking committee, reports Caitlyn Kim for the Durango Herald. The Secure and Fair Enforcement Regulation Banking bill, known as SAFER, provides protections to banks and other financial ins،utions that provide services to legal cannabis businesses in states where it is legal. Currently, much of the legal cannabis industry’s business has been done in cash, making companies vulnerable to crime. Despite bipartisan support, Republicans maintain concerns regarding language around the power of regulators to force banks to refuse service to lawful en،ies, while Democrats argue it doesn’t do enough on the restorative justice end.