Legislative Background on Marijuana Banking
The Secure and Fair Enforcement (SAFE) Banking Act (H.R. 1595)
Congress has been slow to act on any legislation related to the marijuana industry, despite movement at the state level. A number of House-passed provisions related to medical marijuana failed to pass the Senate. In 2014, House Republicans even blocked funding for a Washington, D.C., law decriminalizing possession of marijuana. (Through the appropriations process, Congress controls funding for the capital city.) But the flood of states legalizing marijuana — with more likely to vote in the coming years — has prompted a new look at the industry. H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act, is the most…
