Bipartisan Bill Easing Cannabis Banking Services Introduced in House

Just two weeks after a historic hearing in which Congress considered the difficulties financial institutions face serving legal marijuana businesses, bipartisan legislation has been introduced in the House which may provide a solution.

Rep. Denny Heck (D-WA-10) is among four sponsors of the Safe and Fair Enforcement (SAFE) Banking Act. While Heck has supported such legislation since 2013, the legislation is given better chances of passage this session, following the mid term elections and the spotlight the House hearing provided.

“If Congress fails to act, we are discouraging responsible, regulated markets and allowing a serious public safety threat to go unaddressed,” Heck said, referencing the fact that without access to safe financial services, the businesses are conducting transactions in cash, making them potential targets of crime.

 

Posted in Advocacy on the Move.