The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.
Rep. Ed Perlmutter, the bill’s chief sponsor, said the decision would allow people to “continue to be killed” as cannabis companies’ cash is targeted by crime.
A bipartisan group of senators is calling for a bill allowing banks to serve the legal cannabis industry to be included in the U.S.-China trade bill, ending a yearslong blockade of the popular legislation.