Secure and Fair Enforcement Banking Act of 2019 Still Pending in Congress

The Secure and Fair Enforcement Banking Act of 2019 (SAFE Banking Act) is still pending in Congress. Also known as H.R. 1595, the bill proposes to create protections for depository institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses.

In May 2020 the SAFE Banking Act language was included in the U.S. House stimulus bill called the The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which aimed to provide $3 trillion in economic relief in response to the COVID-19 economic effects on the U.S.

 The bill is currently in the U.S. Senate whose future during this session is uncertain. 

Lanton Law is a national boutique law and government affairs firm that focuses on healthcare/life sciences and technology. Specifically we have expertise in cannabis and CBD related issues.

If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions, contact us today!