Heralded by the cannabis industry as “divine absolution,” the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) fails to provide legal marijuana growers, processors, transporters or sellers (marijuana-related businesses or MRBs) with the access to banking that every other legitimate industry enjoys.

Banking and cash management have been among legalized marijuana’s greatest obstacles and, seeking to align federal and state “banking services access laws” by prohibiting federal banking regulators from penalizing banks servicing MRBs, the U.S. of Representatives passed the bipartisan SAFE Banking Act on April 20.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]