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Will SAFE Banking Act Solve Marijuana Businesses’ Banking Issues?

Due to difficulty in obtaining ­financial services and because marijuana is a “cash only” business, ­marijuana-related businesses (MRBs) face staggering safety, security and operational issues.

Help is on the way for this $7.2 billion per year industry via the Secure and Fair Enforcement Banking Act (SAFE Banking Act), 114 HR 2076, the stated aim of which is “creating protections for depository institutions that provide financial services to MRBs, i.e., those touching marijuana at some point along the supply chain including cultivators, extractors and dispensers.

Read More at TheLegalIntelligencer.com



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