House Approves Marijuana Banking Protections For Third Time As Part Of New COVID Bill

House Approves Marijuana Banking Protections For Third Time As Part Of New COVID Bill

For the third time in just over a year, the House of Representatives has approved legislation that would protect banks that service state-legal marijuana businesses from being penalized by federal regulators.

The text of the Secure and Fair Enforcement (SAFE) Banking Act was included in a wide-ranging coronavirus relief bill that members approved on the floor on Thursday. This is the second time the House inserted the cannabis banking language in COVID-centric legislationthat cleared the chamber after having previously passed it as a standalone bill. While the scope of the latest pandemic relief proposal was generally scaled back in an attempt to make it more palatable to the GOP-controlled Senate, the marijuana provisions remained intact.

The bill, known as The Heroes Act, was approved in a vote of 214-207.

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Published at Fri, 02 Oct 2020 15:40:30 +0000

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