Rep. Earl Blumenauer (D-Oregon), one of Congress’ leading marijuana legalization advocates, said earlier today that cannabis banking reform could pass in a matter of months if not weeks.

The SAFE Banking Act, which would shield banks and credit unions from federal penalties for serving state-legal cannabis companies, has passed the House six times in recent years. But it’s always failed in the Senate.

A version of SAFE Banking is currently embedded within the America COMPETES Act of 2022, a massive bill aimed at revitalizing the economy. The House and the Senate have each passed slightly different versions of the bill. The House version contained SAFE Banking; the Senate version did not.

House and Senate members are now undertaking the long and…

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