ICBA Testifying on Cannabis-Banking Safe Harbor

Feb 08, 2019
ICBA is scheduled to testify before Congress next week on its support for establishing a safe harbor from federal sanctions for financial institutions that serve cannabis-related businesses in states where cannabis is legal.

Greg Deckard of State Bank Northwest in Spokane Valley, Wash., is slated to appear at Wednesday’s House Financial Services Subcommittee on Consumer Protection and Financial Institutions hearing.

ICBA—which does not advocate the legalization of cannabis—supports the policy to enhance public safety and address regulatory compliance concerns by opening the traditional banking system to cannabis-related businesses.

The policy was introduced in the last Congress under the Secure and Fair Enforcement (SAFE) Banking Act.

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