WASHINGTON—An amendment adding the Secure and Fair Enforcement (SAFE) Banking Act to the FY22 National Defense Authorization Act (NDAA) has passed by voice vote.
The amendment, from Rep. Ed Perlmutter (D-CO), will be included in the final House version of the bill that will be voted on later this week. The SAFE Banking Act and related legislation have struggled to get footing in Congress.
CUNA said it strongly supports the SAFE Banking Act, which would provide a safe harbor and other protections for financial institutions serving legal, cannabis-based businesses.
Once passed by the House, the bill’s final outcome will be determined in conference committee with the Senate.