420 with CNW – Congress Again Includes Cannabis Banking Protections in Third Stimulus Bill

October 8, 2020 15:21:59

Players in the cannabis space are cautiously optimistic after the House of Representatives approved a wide-ranging coronavirus relief bill containing text from the Secure and Fair Enforcement (“SAFE”) Banking Act. For the longest time, players in the cannabis space have been unable to access banking services due to cannabis’ status as a Schedule I drug, forcing them to rely on cash-only transactions. Not only does this put them at risk of theft and burglary, but it also makes social distancing during the pandemic almost impossible.

Passed by the House last year but held in limbo in Senate, the SAFE Banking Act would protect banking institutions and allow them to serve cannabis businesses…


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