Banking

Support SAFE Banking For Rep. Ed Perlmutter’s Retirement Present!


In January, Rep. Ed Perlmutter (D-CO) announced that after 15 years in Congress he will not be running for re-election to pursue retirement. Let’s end his last session on a high note by gifting him passage of the SAFE Banking Act! Hear his message to our members and Hemp Supporters across the country —

“Please have your members call their Senators and ask them to pass SAFE Banking to help both small businesses, minority businesses, women-owned businesses, get access to capital, but also to help with public safety where we know that there have been a lot of robberies, we’ve had some murders recently up in the state of Washington, we’ve had those in Colorado, so from a public safety standpoint and access to capital standpoint we need to get SAFE Banking and other things passed and the Senate can get that done this year and needs to get it done this year,” he said.

Contact your Senators today and urge them to support SAFE Banking for cannabis businesses!


Nationwide Alert

Urge Congress to Support the SAFE Banking Act!

Urge Support for the SAFE Banking Act!


Rep. Perlmutter has been a staunch advocate for cannabis in Colorado and nationwide as lead sponsor of The SAFE Banking Act, which has now passed the U.S. House in some form SEVEN times only to be stalled by the U.S. Senate. The Secure and Fair Enforcement (SAFE) Banking Act would protect institutions administering financial services to legal cannabis, hemp and ancillary businesses.

While all 50 states have legalized hemp production and more than 35 states have legalized cannabis for medical or adult use, ill-defined federal law continues to prevent banks, lenders, and credit card processing services from working with legally operating companies involved in the cannabis space. Without access to these services, cannabis businesses are forced to deal with large amounts of cash which can lead to financial confusion or criminal activity.

Rep. Perlmutter has worked closely with Rep. Andy Barr (R-KY) to ensure the SAFE Banking Act would also explicitly protect hemp businesses. Despite the federal legalization, many hemp business owners continue to have trouble finding financial institutions that will work with them—especially when it comes to cannabidiol (CBD) businesses.

“This bill will provide additional clarity for banks, insurance companies and card processors that they can in fact do business with legally operating hemp businesses,” Barr said. “It would also direct our federal financial regulators to update best practices for serving hemp and CBD businesses.”

We appreciate Rep. Perlmutter for going above and beyond during his time in Congress to champion the SAFE Banking Act and support the industry as cosponsor critical pieces of hemp legislation such as HR 841. He has worked closely with the U.S. Hemp Roundtable and our Congressional allies to ensure his legislation paves the best possible path forward for hemp and CBD. As Rep. Perlmutter rounds out his final session, we ask that you please provide him a present showing your appreciation for all his hard work by contacting your Senators and asking them to pass SAFE Banking!

Make Rep. Perlmutter’s last session count by helping SAFE Banking get signed into law.


Nationwide Alert

Urge Congress to Support the SAFE Banking Act!

Urge Support for the SAFE Banking Act!

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