For the first time since it’s introduction in 2015, the SAFE (now SAFER) Banking Bill is making it’s way to a vote in front of the full Senate after passing the Banking Committee. It has a majority of bipartisan supporters in the Senate, so does this mean this will be a slam dunk?
Unfortunately no. Because of the changes in the Senate, the bill has to go back through the House, where Republicans have a majority. And, as one analyst tells CNBC, “Republicans seem to be souring on it.”
This is mainly due to some of the higher regulations that have been added, including a prohibition to terminate any accounts without a good enough reason or to do so because of “personal beliefs or political motivations.”
So despite getting closer than ever before in its 8 years of existence, don’t hold your breath. This all comes as dispensary robberies in Oregon happen about every other day, according to Senator Jeff Merkley.
It’s all a little bit absurd, isn’t it.