WASHINGTON–As CUToday.info has reported, the House is finally expected to take action on the SAFE Act this week, which could provide protections to credit unions serving cannabis-related businesses in states where voters have OK’d marijuana in some form.
But even passage in the House would mean only half the journey is complete. What about the Senate?
“Although anything can happen, I don’t think it will pass the Senate this year,” said Carrie Hunt, EVP and general counsel with NAFCU.
Hunt noted that when hearings were held in the Senate on the legislation earlier this year the pace was much more “deliberative,” with a number of other “tangential” issues being raised.
What all that means is the SAFE Act, which has been before Congress in various forms for more than five years, is likely headed to the next Congress, where it will start over again.
While that pace may seem slow, Hunt observed it has actually moved faster than many have expected, in part due to the number of states that have passed legislation allowing for marijuana usage.