Sunday, October 13, 2019

SAFE Banking Act passes House

The U.S. House of Representatives passed the SAFE Banking Act earlier today in a 321-103 bipartisan vote.

The Act would help legal cannabis-related businesses gain access to banks without punishment from federal banking regulators. The bill would also help banks meet the needs of their communities while also reducing the possibility of cash-motivated crimes at marijuana-related businesses because of their inability to gain access to banking resources.

The bill will now head to the Senate.