SAFE Banking Act Scheduled for Markup in Senate Banking Committee

A measure to provide protections for financial institutions serving cannabis-based businesses in states where it is legal is scheduled for markup in the Senate Banking Committee on Sept. 27. This measure has garnered significant bipartisan support in previous sessions of Congress, but never enough to win passage by both chambers.

“Passage of the SAFE Banking Act would provide Virginia’s financial institutions with needed clarity and protections should they choose to serve the industry once a retail cannabis framework is established here in the Commonwealth,” noted League Chief Advocacy Officer JT Blau.