SAFE Banking Act Reintroduced

Representative Dave Joyce (R-OH) has introduced H.R. 9471, the SAFE Banking Act. The bill would provide access to financial services for cannabis-related businesses and service providers operating legally under state law by preventing federal banking regulators from taking action against or otherwise discouraging financial organizations from providing financial services to such businesses.

The bill was introduced in prior sessions of Congress and passed in the House of Representatives in 2019 and 2022. A companion bill, S. 4942 has been introduced in the Senate by Senator Jeff Merkley (D-OR), and several cosponsors.