ICBA, Groups to House: Pass Cannabis-Banking Bill

Sep 19, 2019
ICBA and other financial services trade groups called on members of the House to support legislation to establish a cannabis-banking safe harbor in states where cannabis is legal.

In a joint letter, the groups said the bipartisan SAFE Banking Act would help meet the needs of cannabis-related businesses, reduce cash-motivated crimes, increase the efficiency of tax collections, and improve cannabis industry transparency. It follows a letter from ICBA and 43 state banking associations earlier this week calling for a full House vote on the bill.

With the House set to vote on its version of the SAFE Banking Act as soon as next week, community bankers can use ICBA's Be Heard grassroots action center to urge their lawmakers to support this critical legislation.

ICBA was the first national banking trade group to support this legislation and to testify before a congressional committee on its behalf.

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