Eight years after it was first introduced, federal legislation that would give cannabis companies in Colorado and across the country access to the banking system is back in Congress. And its co-sponsors, Democrat and Republican, are sounding bullish.
The Secure and Fair Enforcement Banking Act, or SAFE Banking Act, has been introduced every Congress since 2013 by U.S. Rep. Ed Perlmutter, an Arvada Democrat. It has passed the House on several occasions but never the Senate.
Perlmutter expects that to change this year, he said during a conference call Friday. Sen. Sherrod Brown, an Ohio Democrat who chairs the Senate Banking Committee, has told Perlmutter that he expects the committee to debate and vote on the bill for the first time.