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House Passes Marijuana Banking Bill With Bipartisan Support

  • Legislation would give cannabis businesses access to banks
  • Democrats say they are optimistic of prospects in Senate
California Pot Users Turn Out In Droves To Ring In Legal Sales
Photographer: Patrick T. Fallon/Bloomberg

The U.S. House of Representatives passed a bill that would give state-authorized marijuana businesses easier access to banking services.

The bill, H.R. 1996, called the SAFE Banking Act, would prohibit federal banking regulators from penalizing banks and other depository institutions for providing banking services to cannabis businesses. It passed Monday night on a 321-101 bipartisan vote.