First introduced in 2013, the SAFE Banking Act just passed the House 321-103. This bill, an exciting and promising development for cannabis advocates, provides safe harbor to banks and financial institutions doing business with state-legal cannabis businesses, and allows cannabis businesses to move away from conducting business exclusively in cash.
Safe Banking Act Passes House, Extends Cannabis Safe Harbor Protections
By Anthony DeMaio and Robert J. Cordy on September 27, 2019
Posted In Cannabis, Legislation