S.2860: Urge Your U.S. Senators to Support SAFE(R) Banking
Although the 2018 Farm Bill federally legalized hemp, many farmers and business owners involved in the industry continue to have trouble finding reliable banks, loan providers and credit processors to work with them—especially when it comes to businesses that grow, make or sell hemp-derived cannabidiol (CBD).
The Secure and Fair Enforcement Regulation (SAFER) Banking Act would protect institutions administering financial services to all legal cannabis businesses — including hemp and CBD — by preventing penalization from federal regulators, which would make access to banking, loans, credit processing and other financial-related business necessities available to cannabis operators.
Specifically, and thanks to Rep. Andy Barr (R-KY), the latest versions of the SAFE Banking Act explicitly protect individuals or companies operating in the hemp or CBD space.
Now is the time to take action!
The House has passed SAFE Banking in some form on seven separate occasions, only to be stalled by the Senate… until now! After years of lobbying from cannabis operators and advocacy groups like US, the Senate has finally taken action on the bill.
On September 27th, the Senate Finance Committee advanced S.2860, the SAFE(R) Banking Act (formerly the SAFE Banking Act), by a bipartisan 14-9 vote. The bill is on its way to the Senate floor!
Let’s harness this momentum to ensure that SAFE Banking crosses the finish line.
Your voice holds immense power, and our Senators pay close attention when they hear from their constituents. We kindly request you to spare just a moment of your time to send a prewritten message to your U.S. Senator using the form to encourage them to cast a YES vote for S.2860, the SAFER Banking Act.
Your advocacy makes a difference, and together, we can help shape the future of the hemp industry.
