Removing Barriers Blog

Joint trade letter sent in support of SAFE Banking
Posted December 13, 2019 by CUNA Advocacy

CUNA joined a number of trade associations in sending a letter to Chairman Crapo and Ranking Member Brown in support of the SAFE Banking Act.

"As a national, diverse, multi-sector collection of broad stakeholders impacted by the legal cannabis industry in the U.S., we request that you bring the SAFE Banking Act (H.R. 1595) before the Committee. As you are aware, the House of Representatives passed SAFE on September 25th with an overwhelmingly bipartisan vote of 321 – 103. This represents the bipartisan support for the issue and the first time in history that any Congress voted on meaningful cannabis reform legislation."

If enacted, the SAFE Banking Act would provide a safe harbor for entities that conduct legal, cannabis-based businesses, which CUNA supports. CUNA takes no position on the legalization or decriminalization of cannabis.

CUNA has testified before both the Senate Banking Committee and House Financial Services Committee this year in support of the SAFE Banking Act.