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.
Sponsors of the bill were Ed Perlmutter of Colorado and Denny Heck of Washington State. The bill had “broad bipartisan support”, and there were 152 cosponsors at the time of the committee vote – over a third of the entire House. Heck and Perlmutter “have introduced similar bills every Congress since 2013”.
- Bruce Barcott (March 28, 2019). “Enough Talk! Congress Takes Action on Key Cannabis Legislation”. Leafly.
- Andrew G. Simpson (March 29, 2019). “House Committee Passes Bill to Protect Banks, Insurers Serving Marijuana Businesses”. Insurance Journal.
- Perlmutter press release March 28, 2019
- Jeanne Friedel (February 20, 2019), “Cannabis’s Banking Problem”, law blog, Scott Candell and Associates Attorneys at Law
- “Cosponsors – H.R.1595 – 116th Congress (2019–2020): SAFE Banking Act of 2019”. www.congress.gov. Retrieved May 8, 2019.
- “Cosponsors – S.1200 – 116th Congress (2019–2020): Secure And Fair Enforcement Banking Act of 2019”. www.congress.gov. Retrieved May 8, 2019.
- Renae Merle (February 13, 2019). “Banks want a hit of the marijuana business. Will they get to partake?”. Washington Post.
- H.R.1595 – SAFE Banking Act of 2019 U.S. House of Representatives official website