A groundbreaking marijuana bill has advanced in the Senate. The Senate Banking Committee on Wednesday gave their approval to the Secure and Fair Enforcement Regulation Banking Act, which allows legal marijuana businesses to use banks and financial institutions. Current law prohibits banks from providing services to the cannabis industry. The bill now moves to the Senate floor for full consideration. The bill’s sponsor, Senator Jeff Merkley of Oregon, called it a “historical moment,” and said he’s “committed to building bipartisan momentum” for the bill.
