Senate advances bill to allow marijuana industry to bank with financial institutions
Fox News
The Senate has advanced the bipartisan SAFER Act, which would allow legal cannabis businesses to access insurance and other financial services.
Senate Majority Leader Chuck Schumer, D-N.Y. – one of the bill’s staunch supporters – said on the floor Wednesday morning the upper chamber will prioritize passing the bill. Jamie Joseph is a writer who covers politics. She leads Fox News Digital coverage of the Senate.
"I will bring SAFER banking to the floor for a vote as quickly as possible," Schumer said in his opening remarks. "For too long, cannabis businesses have been forced to rely primarily on cash transactions. No credit or debit cards, dealing only in cash, stifles these businesses' growth, opens them up to so many risks, makes them easy targets for theft, robbery and other crimes."
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