CUNA backs ‘commonsense’ SAFE Banking Act, remote notary amendments

CUNA wrote in support of cannabis banking safe harbor and remote notary amendments to the FY22 National Defense Authorization Act Wednesday, prior to the House vote on the bill.

An amendment by Rep. Ed Perlmutter (D-Colo.) was successfully added late Tuesday that would add the Secure and Fair Enforcement (SAFE) Banking Act.

The SAFE Banking Act would provide a safe harbor and other protections for financial institutions serving legal, cannabis-based businesses. The House passed the bill as a standalone earlier this year.

“Inclusion of the SAFE Banking Act puts in place necessary protections to bring revenue from state-sanctioned cannabis businesses into the financial services mainstream and, as a result, keeping communities safe,” the letter reads.

 

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