Cannabis Access to Banks Bill

 

The House of Representative passed a bill allowing banks to work with the cannabis industry.

Known as the SAFE Banking Act, the Secure and Fair Enforcement Act of 2019 passed 321 to 103.

However, with a mostly party-line vote in the Democrat-led chamber, the legislation faces an uncertain future in the Republican-led Senate.

The bill allows marijuana-related businesses in states with some form of legalized marijuana and strict regulatory structures to access the banking system. 

47 states, four U.S. territories, and the District of Columbia, representing 97.7 percent of the U.S. population, have legalized some form of recreational or medical marijuana, including CBD oil.