House Passes SAFE Banking Act
The U.S. House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act Wednesday 321 to 103. It was the first standalone marijuana reform bill passed in the House of Representatives.
The SAFE Banking Act would create a “safe harbor” for financial institutions that do business with legal cannabis companies. Read the text here.
Rep. Terri Sewell of Alabama was the only Democrat to vote no. Half of the Republicans joined their Democratic colleagues in passing the bill.
The bill now heads to the Republican-controlled Senate where it will have a much tougher time—if it makes it to the floor at all.
Read more at Marijuana Moment.