SAFE Banking Act

The SAFE Banking Act (H.R. 1595) (full title Secure and Fair Enforcement (SAFE) Act; also referred to as the SAFE Banking Act of 2019) is proposed legislation regarding disposition of funds gained through the cannabis industry in the United States. In March 2019, it was advanced by the House Financial Services Committee for a vote by the full United States House of Representatives.[1][2]

Sponsors of the bill were Ed Perlmutter of Colorado and Denny Heck of Washington State. The bill had “broad bipartisan support”,[3] and there were 152 cosponsors at the time of the committee vote – over a third of the entire House.[4] Heck and Perlmutter “have introduced similar bills every Congress since 2013”.[5]

As of May 9, 2019, the House bill had 178 cosponsors,[6] and the Senate bill had 24 cosponsors.[7]

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