Regulatory and Legislative

SAFER Banking Act Advances Out of Committee

The Senate Finance Committee has advanced S. 2860, the Secure and Fair Enforcement Regulation (SAFER) Banking Act by a vote of 14-9. Introduced by Senator Jeff Merkley (D-OR), the bill would provide access to financial services for cannabis-related businesses and service providers operating legally under state law by preventing federal banking regulators from taking action against, or otherwise discouraging financial organizations from providing financial services to such businesses.