Marijuana businesses can’t openly bank and congressman Ed Perlmutter, D-Colo., is hoping to change that. Perlmutter on Thursday introduced the Secure and Fair Enforcement Banking Act (SAFE Banking Act), legislation that would allow banks to serve marijuana-related businesses without fear of penalties from the federal government. The bill is a reintroduction of the Marijuana Businesses Access to Banking Act, which was first introduced in 2013 — and again in 2015 — and subsequently languished. Whether the third time’s the charm remains to be seen, but a lot has changed in four years — and even two years — for the marijuana legalization landscape, Perlmutter and co-sponsors Denny Heck, D-Washington, and Don Young, R-Alaska, said in a statement. “With the majority of states now allowing for some form of recreational or medical marijuana, we have reached a tipping point on this issue and it’s time for Congress to act,” Perlmutter said.

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