Urge Congress to Support the SAFE Banking Act!
The Secure and Fair Enforcement (SAFE) Banking Act has another chance thanks to bill champion Rep. Ed Perlmutter (D-CO), who has filed the legislation as an amendment to the America COMPETES Act. This is his last attempt to secure financial protections for all legally operating U.S. cannabis businesses before retiring from Congress! Let’s make Rep. Perlmutter’s last session count by getting SAFE Banking signed into law.
While Rep. Perlmutter successfully secured SAFE Banking to the FY22 National Defense Authorization Act (NDAA) through the House, the Senate stopped the legislation in its tracks by removing his amendment from the proposal. At this point, SAFE Banking has cleared the House in five forms, only to be stalled in the Senate.
Although the America COMPETES Act does not deal directly with cannabis-related issues, its broader scope encompasses research and innovation in the tech and manufacturing sectors. The next steps will be markups and revisions to the new SAFE Banking Act amendment by the House Rules Committee.
All legal U.S. businesses deserve to feel SAFE banking!
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 providing safe banking to legally operating businesses 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.
Help SAFE Banking across the finish line!
Please use this Federal Action Center TODAY to support efforts to attach the SAFE Banking Act to must-pass legislation making its way through the Senate, such as the COMPETES Act.