Both of Nevada's U.S. senators have signed on to federal legislation designed to provide legal marijuana businesses access to banks.
Senators Jeff Merkley or Oregon and Cory Gardner of Colorado introduced the Secure And Fair Enforcement Banking Act in the U.S. Senate on Thursday.
Nevada senators Jacky Rosen and Catherine Cortez Masto were two of 20 additional co-sponsors of the bill, which would shield banks from punishment by federal regulators for maintaining accounts for state-approved cannabis businesses.
The movement on cannabis banking legislation comes amid growing support for broader marijuana law reforms.
Last week, according to Forbes, bipartisan groups of House and Senate members filed legislation to let states enact their own legalization laws without federal interference.
That bill wouldn’t change marijuana’s scheduling status but would exempt state-legal activity from the Controlled Substances Act.
