Cannabis industry advocates applauded House Democrats on Tuesday after a new $3 trillion federal stimulus bill included provisions to allow marijuana businesses access to banking.
Introduced by House speaker Nancy Pelosi, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act includes wide-ranging goals to address the effects of the coronavirus pandemic, from offering financial assistance to state and local governments to forgiving student loan debt.
Wrapped into the massive, 1,815-page bill is an initiative led by Colorado Democratic Rep. Ed Perlmutter known as the Secure and Fair Enforcement (SAFE) Banking Act, which would allow legal cannabis businesses to leverage traditional banking services.
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