A CUNA-backed bill to provide protections for credit unions serving legal cannabis businesses will be on the House floor this week, and CUNA will be engaged with a faster payments hearing, in addition to other activities on Capitol Hill this week.
The CUNA-backed Secure and Fair Enforcement (SAFE) Banking Act would provide protections for financial institutions that serve cannabis-based businesses in states where it is legal. CUNA/League witness Rachel Pross, chief risk officer at Maps CU, Salem, Ore., testified in support of the bill before the House Financial Services Committee in February and the Senate Banking Committee in July.
Other hearings CUNA is engaged with this week include:
In addition, The Senate is expected to vote on the House-passed continuing resolution to fund the federal government through Nov, 21. This bill includes a provision to extend the National Flood Insurance program through Nov, 21, while another ensures the operation of the Small Business Administration’s 7(a) loan program.