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Bipartisan Group Of Senators Call For Passing The SAFE Banking Act

November 30, 2021

A bipartisan group of U.S. senators are calling for the SAFE Banking Act to be included in the military spending bill currently making its way through Congress. The House of Representatives has already passed its version of the National Defense Authorization Act and included the amendment, which would open banking services to the cannabis industry. The senators voicing their support include five on the Senate Armed Services Committee like Jacky Rosen of Nevada, Kevin Cramer of North Dakota, and Mark Kelly of Arizona.

Both of Colorado’s senators, John Hickenlooper and Michael Bennet, also spoke out. “Legalization has had a profound impact on our state’s economy, supporting over 35,000 jobs and bringing in more than $1 billion in tax revenue,” they wrote. “Without federally-approved banking services, state-licensed cannabis businesses cannot write checks, make or receive electronic payments, utilize a payroll provider, or accept credit and debit cards.”—Danny Sullivan

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