The US Senate’s SAFER Banking Act, which would allow marijuana banking, now has 37 sponsors.
Senator Lisa Murkowski (R-AK) officially signed on as a cosponsor of the SAFER Banking Act (S.2860) yesterday. This measure would provide federal protections to banks and other financial institutions, such as credit unions, that offer services to marijuana businesses operating legally under state law. Murkowski is the 37th sponsor of the measure, the fifth Republican, and the first new sponsor since February.
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 has pledged to bring the measure to a vote in the full chamber but has not yet set a date or timeframe for this to occur.
The SAFE Banking Act in the House of Representatives recently gained its 128th sponsor.
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 earlier this year, 63% of Americans support the SAFE and SAFER Banking Acts.
