SAFE Banking Act would ease cannabis industry's financial restrictions

The U.S. House of Representatives will vote this week on a bill that would let banks do business with cannabis companies without fear of penalty.

The so-called SAFE Banking Act, which is the least disputed reform sought by the growing industry, got picked up as part of broader legislation, and its inclusion in the National Defense Authorization Act (NDAA) was approved by voice vote late Tuesday. It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.

The act would be a boon for marijuana companies, which have so far been stymied by the need to deal in

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/safe-banking-act-would-ease-cannabis-industrys-financial-restrictions"]

Latest Articles

Related Articles