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Potential Cannabis banking law is still just potential.

A quick update on the SAFE Banking Act. As you may recall, the bill, which passed the House last year, is still sitting in Committee in the Senate. This past December, the Senate Banking Committee Chair said that he wanted to see a number of changes to the House bill, notably to only provide banking relief for companies working with non-hemp cannabis with no more than 2% THC (more on this here). Just last week, a dozen House lawmakers sent a letter to the Committee Chair supporting this move, while over 1,300 industry participants sent a letter urging that House-written bill be advanced for a floor vote (link).

What does this mean for the future of the SAFE Banking Act in the Senate? Who knows. In the meantime, it remains just a bill (link).



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