New Pot Banking Bill Introduced As SAFE Banking Act Falters

By Katryna Perera (June 23, 2022, 5:39 PM EDT) -- Members of Congress on Thursday introduced new legislation to grant state-legal cannabis businesses access to financial services as reports emerged that the so-called SAFE Banking Act had been cut from another piece of legislation known as the America Competes Act.

The SAFE, or Secure and Fair Enforcement, Banking Act had been supported by several industry advocates and organizations and bipartisan groups of Senate and House members, as well as state attorneys general and state governors, as a way to broaden the cannabis industry's access to banking and financial services and boost public safety within the industry.

Supporters pushed for the bill to be...

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