Cannabis Banking Bill Approved by House

SAFE Banking Act has potential to help mitigate cannabis banking challenges.

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The House Wednesday approved H.R. 1595 also known the SAFE Banking Act, according to Ganjapreneur. 

The bill intends to give banks the right to do business with cannabis companies that are state-legal. As of now, many businesses are hindered by complications that come from the discrepancy between state-level legality and federal illegality of cannabis.

In addition to the landslide passage of the bill, which was a bipartisan effort, the bill was the first "stand-alone cannabis legislation" to be considered by the House, according to Ganjapreneur.

For more on this major legislative win for legal cannabis, read the full story here.

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