SAFER Banking Act Markup Scheduled for Tomorrow in Senate Banking

As we reported earlier, there’s movement in the Senate Banking Committee on the SAFER Banking Act, with a markup scheduled tomorrow. The legislation would allow credit unions and banks to serve cannabis businesses and their workers in states where cannabis is legal.

“While the League takes no position on cannabis use itself, the passage of the SAFER Banking Act would provide Virginia’s financial institutions with needed clarity and protections should they choose to serve the industry once an adult-use retail market is established here in the Commonwealth,” noted League Chief Advocacy Officer JT Blau.