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SAFE Banking Act Passes House Financial Services Committee


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Bipartisan Bill Passes 45-15 in Favor of Bill

Forbes is reporting that the SAFE Bank Bill passed 45-15 after the House Financial Services Committee approved an updated version of the SAFE Banking Act. According to Forbes, this is the most popular cannabis bill ever put before Congress, with 152 members signing on to be co-sponsors.

The SAFE Banking Act was re-introduced in the 116th Congress by Reps. Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers (R-OH) and Warren Davidson (R-OH). The bill would prevent banking regulators from penalizing banks working with cannabis-related businesses.

Forbes

The bill is not quite yet a done deal as the bill will now go back to the House Judiciary Committee. The bill is still being touted as one of the biggest victories for the cannabis industry so far, and is expected to be the first significant piece of legislation in regards to the financial industry and it’s ability to operate inside the cannabis industry.

Stay tuned for more updates to this story, and check out our other posts for more news and information on the CBD, Hemp, & Cannabis industries. Thanks for reading.


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