Today, Senators Jeff Merkley (D-OR) and Steve Daines (R-MT) introduced the bipartisan SAFE Banking Act, to ensure legal cannabis businesses, including hemp businesses, have access to critical banking services. Our very own Chief Legislative Strategist Courtney N. Moran, LL.M. helped draft the Senate version of the bill.
On March 18, 2021 the U.S. House introduced a similar version of the bill. The House SAFE Banking Act is sponsored by Rep. Ed Perlmutter (D-CO).
In 2019, HR 1595, a previous version of the SAFE Banking Act passed the U.S. House, but was never heard by the U.S. Senate.
We are hopeful to see movement this 117th Congress in both the House and Senate to secure banking protections for our industry!
Read the full announcement from Senator Merkley here!
“Let’s make 2021 the year that we get this bill signed into law so we can ensure that all legal cannabis businesses have access to the financial services they need to help keep their employees safe.” – Senator Jeff Merkley
“My bipartisan bill will provide needed certainty for legal Montana cannabis businesses and give them the ability to freely use banks, credit unions and other financial institutions without the fear of punishment” – Senator Steve Daines
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