SAFE Banking Act Reintroduced In Congress
Thu / Apr 27th
Bipartisan lawmakers in the U.S. House and Senate reintroduced the SAFE Banking Act this week, which seeks to normalize banking services for state-licensed cannabis companies.
The SAFE Banking Act protected banks that chose to do business with legal cannabis companies. Under this act the financial institutions would not be subject to forfeiture for banking in cannabis. Learn about the SAFE Banking Act in these articles:
Thu / Apr 27th
Bipartisan lawmakers in the U.S. House and Senate reintroduced the SAFE Banking Act this week, which seeks to normalize banking services for state-licensed cannabis companies.
Tue / Dec 20th
Language to expand cannabis banking and expungement was ultimately excluded from the annual federal spending bill following GOP pushback, and Congress will continue to block the full implementation of Washington D.C.’s voter-approved cannabis reforms.
Fri / Dec 16th
Senate Majority Leader Chuck Schumer is attempting one last-ditch effort this weekend to attach cannabis banking reforms to the annual omnibus funding package.
Wed / Dec 7th
The Senate has walked back plans to include bipartisan cannabis banking reforms in the annual national defense bill following an outcry by GOP lawmakers.
Mon / Dec 5th
Top Senate Democrats are reportedly set to attach language from the SAFE Banking Act that would normalize the cannabis industry’s access to banking services to a “must-pass” end-of-year bill like the annual National Defense Authorization Act.
Tue / Nov 1st
A large group of cannabis businesses in New York and New Jersey sent a signed letter to U.S. Senate Majority Leader Chuck Schumer (D-NY) requesting that he include restorative justice provisions in the SAFE Banking Act.
Thu / Jul 14th PARTNER CONTENT
This article is excerpted from The SAFE Banking Act: Explained. Download the full report here. Lawmakers continue to discuss how… Read More
Fri / Jun 24th
The SAFE Banking Act was removed from the COMPETES Act, a China competition bill, at the behest of Republican lawmakers who argued the cannabis banking reforms didn’t belong in the legislation.
Wed / Jun 8th
The U.S. Conference of Mayors endorsed a resolution calling on federal lawmakers to pass the SAFE Banking Act and to legalize both medical and adult-use cannabis.
Tue / May 17th
Oregon Rep. Earl Blumenauer (D) blames the supply chain crisis on the federal zero-tolerance policy for cannabis consumption by commercial drivers, which disqualifies huge sections of the workforce.
Wed / May 4th
Senators from both sides of the aisle are in support of adding the SAFE Banking Act to a separate bill, the U.S. Innovation and Competition Act, aimed at easing manufacturing and supply chain issues.
Mon / Feb 7th
The U.S. House of Representatives passed the SAFE Banking Act for the sixth time as an amendment to the China competition bill.
Mon / Jan 31st
The SAFE Banking Act — which has sought for years to let the cannabis industry access banking services — was revived last week as an attachment to the America COMPETES Act of 2022, a domestic spending bill.
Wed / Jan 19th
Congressional Democrats are planning to take on numerous cannabis reform proposals during the upcoming legislative session, including banking, expungement, decriminalization, and social equity considerations.
Tue / Jan 11th
Colorado Rep. Ed Perlmutter (D), the author of the SAFE Banking Act and other cannabis reform bills, announced this week he would not seek reelection.
Wed / Dec 8th
Lawmakers have removed language from a national defense bill that would have given state-legal cannabis companies access to banking services.
Wed / Sep 22nd
For the second time this year, the U.S. House of Representatives has approved the SAFE Banking Act which would allow banks to work with cannabis firms without fear of penalty.
Tue / Apr 20th
The U.S. House of Representatives approved the SAFE Banking Act in an overwhelmingly bipartisan 321-101 vote. The bill moves next to the Senate.
Fri / Mar 19th
The SAFE Banking Act has been reintroduced in the U.S. House of Representatives. The bill was first passed 18 months ago with immense bipartisan support but never appeared in the Republican-controlled Senate.
Wed / Aug 5th
Senate Majority Leader Mitch McConnell threw shade at Speaker of the House Nancy Pelosi yesterday, suggesting that she claimed cannabis was an effective treatment for COVID-19.
Thu / Dec 26th
While the budget rider protecting medical cannabis from federal interference remained intact with the new omnibus package, recreational industry protections have been stripped.
Fri / Dec 20th
Senate Banking Committee Chairman Mike Crapo, a Republican from Idaho, says he does not support the SAFE Banking Act because it fails to address issues such as high cannabis potencies and marketing strategies that target children.
Wed / Sep 25th
The House of Representatives passed the SAFE Banking Act this afternoon in a historic and bipartisan landslide of support for giving state-legal cannabis companies access to banking services.
Fri / Sep 20th
The SAFE Banking Act, which would normalize banking for the cannabis industry, is expected to receive a House vote next week.
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