U.S. House passes SAFE Banking Act as part of COMPETES Act
On Feb. 4, the U.S. House of Representatives passed the CUNA/Cornerstone-supported Secure and Fair Enforcement (SAFE) Banking Act as an amendment attached to the America COMPETES Act.
The SAFE Banking Act would provide protections to financial institutions serving cannabis-based businesses where it is legal and addresses an important public safety issue.
Cornerstone is monitoring progression of this bill.
The SAFE Banking Act previously passed the House this Congress as part of the fiscal year 2022 National Defense Authorization Act but was not included in the final package, and as a standalone bill.
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