Senate coalition clears the SAFER Banking Act

The Senate Banking Committee advanced a bill that would provide a regulatory safe harbor for banks to work with state-legal cannabis companies, an effort more than a decade in the making.

The package, now titled the Secure and Fair Enforcement Regulation Banking Act, cleared the committee with bipartisan backing from three Republicans – Sens. Steve Daines (Mont.), Cynthia Lummis (Wyo.) and Kevin Cramer (N.D.).