Coalition Urges Senate to Pass Marijuana Banking Bill for Industry Access to U.S. Financial System

Banking associations representing all 50 U.S. states, as well as various other financial, insurance and union organizations, are calling for Senate committee passage of a marijuana banking bill “as quickly as possible.” The Secure and Fair Enforcement (SAFE) Banking Act would allow banks to handle the proceeds from state-licensed cannabis businesses and the accountants, skilled trades, landlords, law firms, and other service providers they rely upon for legal operations. The inability of the state-licensed cannabis industry to access safe and regulated financial services is a pressing concern for so many of our nation’s communities and the banks that serve them.