SAFE Banking Act Added to America COMPETES Act

The CUNA/League-supported Secure and Fair Enforcement (SAFE) Banking Act was added to the House’s America COMPETES Act, which will likely be voted on Friday. The SAFE Banking Act would provide protections to financial institutions serving cannabis-based businesses where it is legal.

The SAFE Banking Act has passed the House twice in 2021: once as a standalone bill in April, and again in September as part of the fiscal year 2022 National Defense Authorization Act (NDAA). It was not included in the final version of the NDAA.