Governors across U.S. states and territories have penned a letter to congressional leaders, urging for cannabis banking access. The governors of 24 states and U.S. territories sent a letter to congressional leaders on Thursday calling on lawmakers to pass legislation that would permit financial institutions to provide banking services to the regulated cannabis industry. The letter from the bipartisan group of two dozen governors seeks passage of the Secure and Fair Enforcement (SAFE) Banking Act, which was approved by the House of Representatives in September as part of a comprehensive defense spending authorization bill. In the letter, which was sent to Senate Majority Leader Chuck Schumer of New York, Speaker of the House Nancy Pelosi and other Democratic and Republican leaders in Congress, the governors of 21 states, Washington, D.C., the U.S. Virgin Islands and Guam, call for provisions of the SAFE Banking Act to be included in the final version of the National Defense Authorization Act for the 2022 fiscal year. Relief for a Cash-Heavy Industry If passed by the Senate and signed into law, federal banking regulators would be prohibited from penalizing banks that choose to serve cannabis firms doing business in accordance with state law.

420 Intel – Marijuana Industry News, 11/10/2021 19:00:00

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