SAFE Banking Act reintroduced, bringing hope to cannabis industry and boosting weed stocks.

Lawmakers reintroduced the Secure and Fair Enforcement (SAFE) Banking Act in the House and Senate on Wednesday, after the legislation designed to free up banking services for the cannabis industry stalled in last year's Congress. The bill, which has been tweaked since last session, was introduced by Sen. Jeff Merkley, D-Ore., Sen. Steve Daines, R-Mont., Rep. Dave Joyce, R-Ohio, and Rep. Earl Blumenauer, D-Ore. If the critical banking and financial protections advance through committees, they could see a vote on the Senate floor for the first time. The bipartisan nature of the SAFE Banking Act's reintroduction appeared to boost hopes of more relief to come in the industry.