Support for federal marijuana banking legislation continues to grow, despite no legislative progress being made since the Senate Banking Committee approved the measure last September.
In the US House of Representatives, the SAFE (Secure and Fair Enforcement Banking Act) Banking Act (H.R. 2891) has 129 sponsors, including 102 Democrats and 27 Republicans, making it the most widely supported marijuana-related bill in the US Congress. The legislation would provide clear federal protections for banks and credit unions offering financial services to state-legal marijuana businesses, which include medical marijuana dispensaries in 38 states and recreational marijuana stores in 23 states.
On the Senate side, the SAFER (Secure and Fair Enforcement Regulation Banking Act) Banking Act (S.2860) has gained 37 sponsors following the recent endorsement by Senator Lisa Murkowski (R-AK), the fifth Republican to back the bill.
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