What happened Shares of Sundial Growers (NASDAQ: SNDL) jumped 11% Monday as potentially game-changing marijuana legislation took an important step forward. So what The U.S. House of Representatives voted in favor of passing the Secure and Fair Enforcement (SAFE) Banking Act. The bill seeks to allow banks and other financial service providers to legally serve cannabis companies. Many banks have declined to work with even state-licensed marijuana producers for fear of running afoul of federal law. Sundial Growers and other marijuana stocks rallied Monday. Image source: Getty Images. The bill is expected to head to the Senate, though a date has not yet been set for a vote. Still, Senate approval seems likely as all Democrats and more than half of the Republicans in the House voted to support the bill. Now what Many state-licensed cannabis businesses have found it difficult to obtain even basic financial services, such as checking accounts and payroll services. They've also been forced to seek more expensive forms of financing as bank loans have largely been unavailable to the industry. Should Congress pass the SAFE Banking Act and President Joe Biden sign it into law, it would likely make it significantly easier and cheaper for marijuana companies to obtain the capital they need to fund their growth initiatives. The act should also make cannabis businesses safer and more efficient, as credit services would lessen the need for cash in day-to-day operations. Astute investors know this and bid up Sundial's shares and other cannabis stocks in hopes that the SAFE Banking Act will soon make its way through Congress. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. And make no mistake – it is coming. Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Simply click here to get the full story now. Learn moreJoe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source