US Senate: SAFER Banking Act to Allow Marijuana Banking Gains 36th Sponsor

The SAFER Banking Act is now sponsored by 36% of the entire United States Senate.

Senator Maria Cantwell (D-WA) has signed on as a cosponsor for the SAFER Banking Act (S.2860), which would give federal protections to banks and other financial institutions (such as credit unions) that provide services to marijuana businesses that are legal under their state’s law. Senator Cantwell is the measure’s 36th sponsor.

The SAFER Banking Act was filed in September with 13 sponsors. It has since nearly tripled its total number of sponsors.

Of the 36 sponsors, 29 are Democrat, four are Republican and three are independent. A House version of the bill, the SAFE Banking Act, recently garnered its 104th sponsor.

The SAFER Banking Act was passed through the Senate Committee on Banking, Housing and Urban Affairs with bipartisan support in September, just a week after it was filed. Senate Majority Leader Chuck Schumer said in November that the full Senate is “getting close” to a vote.

The SAFER Banking Act has the support of the National Conference of State Legislatures, as well as a bipartisan group of 22 attorneys general.

According to polling released last week, “by greater than a 2-to-1 margin (55% support vs 23% oppose) U.S. adults support Congress passing legislation that allows cannabis businesses to access banking services.”

A House version of the bill, the SAFE Banking Act, recently garnered its 104th sponsor.

Here is the full list of the Senators sponsoring the SAFER Banking Act:

  • Jeff Merkley [D-OR]
  • Kevin Cramer [R-ND]
  • Steve Daines [R-MT]
  • John Fetterman [D-PA]
  • Cynthia Lummis [R-WY]
  • Robert “Bob” Menendez [D-NJ]
  • Catherine Cortez Masto [D-NV]
  • Tina Smith [D-MN]
  • Jon Tester [D-MT]
  • Elizabeth Warren [D-MA]
  • Cory Booker [D-NJ]
  • Angus King [I-ME]
  • Jacky Rosen [D-NV]
  • Charles “Chuck” Schumer [D-NY]
  • Kyrsten Sinema [I-AZ]
  • Dan Sullivan [R-AK]
  • Ron Wyden [D-OR]
  • Tammy Duckworth [D-IL]
  • Kirsten Gillibrand [D-NY]
  • Mazie Hirono [D-HI]
  • Mark Kelly [D-AZ]
  • Amy Klobuchar [D-MN]
  • Patty Murray [D-WA]
  • Martin Heinrich [D-NM]
  • Gary Peters [D-MI]
  • Michael Bennet [D-CO]
  • Christopher Coons [D-DE]
  • Timothy “Tim” Kaine [D-VA]
  • John Hickenlooper [D-CO]
  • Ben Luján [D-NM]
  • Debbie Stabenow [D-MI]
  • Tammy Baldwin [D-WI]
  • Alejandro “Alex” Padilla [D-CA]
  • Bernard “Bernie” Sanders [I-VT]
  • Brian Schatz [D-HI]
  • Maria Cantwell [D-WA]
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