Browsing: Marijuana

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The House today passed the America Competes Act, a bill aimed at boosting American economic competitiveness against China, which included as an amendment the SAFE Banking Act—an American Bankers Association-supported bill that would enable banks to serve legitimate cannabis businesses in states where it is legal.

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The American Bankers Association joined a broad coalition of industry trade groups in a letter to Senate leadership, members of the Banking, Housing and Urban Affairs Committee, and the Armed Services Committee, urging them to include the Secure and Fair Enforcement Banking Act in the upcoming National Defense Authorization Act.

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A group of 24 Democratic and Republican governors yesterday called on Congress to include the SAFE Banking Act—an American Bankers Association-backed bill that provides clarity to financial institutions seeking to serve legitimate cannabis businesses—as an amendment to the National Defense Authorization Act, noting that the bill has “more bipartisan support than ever before.”

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In an overwhelming, bipartisan vote this week, the House Rules Committee agreed to include the SAFE Banking Act—an American Bankers Association-supported bill that provides clarity to financial institutions seeking to serve legitimate cannabis businesses—as an amendment to the National Defense Authorization Act.

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