Banking associations from 49 states and Puerto Rico sent a letter to the chairman and ranking member of the Senate Banking Committee on Friday, imploring them to advance a bill protecting financial institutions that service state-legal marijuana businesses.

In the letter to Sens. Mike Crapo (R-ID) and Sherrod Brown (D-OH), the groups stressed that they are not taking a stance on the broader question of cannabis legalization but support House-passed legislation preventing federal regulators from penalizing banks solely because they work with marijuana companies.

They urged a markup of the Secure and Fair Enforcement (SAFE) Banking Act, was was approved along largely bipartisan lines in the House last year.

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Kyle Jaeger ~ MarijuanaMoment.net ~