North Dakota Bankers
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House Passes ABA-Backed SAFE Banking Act

House Passes ABA-Backed SAFE Banking Act

Posted: Apr 21 2021
Monday evening, by a bipartisan vote of 321 to 101, the House passed the SAFE Banking Act of 2021.  NDBA supports the legislation which provides clarity to financial institutions seeking to serve legitimate cannabis businesses.
 
The bill was previously passed by the House in the last Congress but was not taken up in the Senate. Currently, 36 states have legalized cannabis for medical or adult use, but current federal law prevents banks from safely banking cannabis businesses, including ancillary businesses that provide them with goods and services.
 

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