North Dakota Bankers
Extraordinary Leadership for North Dakota Banks

NDBA Joins State Associations, ABA in Urging Senate to Include SAFE Banking Act in NDAA

NDBA Joins State Associations, ABA in Urging Senate to Include SAFE Banking Act in NDAA

Posted: Dec 08 2021
In a letter to the Senate last week, NDBA joined more than 50 state banking associations and the ABA in urging the Senate leadership to include the SAFE Banking Act in the National Defense Authorization Act (NDAA) when it comes to the floor for debate.  As we reported previously, the bill’s language was included in the House version of NDAA, which was passed in September.

The NDBA-supported SAFE Banking Act provides clarity to financial institutions wishing to serve legitimate cannabis businesses by creating a safe harbor for depository institutions serving these businesses in states where medicinal or recreational cannabis is legal. More than 35 states have legalized cannabis, but current federal law prevents banks from safely banking cannabis businesses, including ancillary businesses that provide them with goods and services.

To read the letter, visit: www.ndba.com/uploads/48/ABASTEXSAFEinNDAAFINAL.pdf

Designed and developed by Odney