The Feds are inching closer to allowing access to banks for cannabis businesses. The republican-controlled Senate Committee on Banking, Housing and Urban Affairs scheduled a meeting to review the Secure And Fair Enforcement (SAFE) Banking Act. This was considered a long-shot not too long ago. In a sign that federal legalization might be on the horizon, lawmakers are finally paving the way toward access to financial services for cannabis business owners.
Here’s an article from Forbes:
I know many in our industry have found ways to circumvent the issue and access financial services via credit unions, 3rd party processors, or by even going outside the country; what does this move by the feds mean for you? @memberdirectory: were it to pass, how might the SAFE Act impact our industry as a whole? How would it affect your individual business?