ICBA called on the Senate to advance a House-passed amendment to establish a cannabis banking safe harbor, which community bankers can advocate in custom messages to senators.
House Vote: The House last week passed the SAFE Banking Act amendment as part of the America COMPETES Act, the sixth time the House has passed the ICBA-advocated cannabis bill. ICBA is urging the Senate to retain the amendment during conference committee deliberations.
Background: The bill would establish a safe harbor for financial institutions that serve cannabis-related businesses in states that have legalized cannabis for medical or recreational use. ICBA was the first national banking trade group to support the SAFE Banking Act and to testify before Congress on its behalf.
Grassroots: Community bankers can use ICBA’s Be Heard grassroots action center to call on their senators to take up and pass the measure.