CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » CUNA backs ‘commonsense’ SAFE Banking Act, remote notary amendments
Policy & Issues

CUNA backs ‘commonsense’ SAFE Banking Act, remote notary amendments

September 22, 2021
Cap1

CUNA wrote in support of cannabis banking safe harbor and remote notary amendments to the FY22 National Defense Authorization Act Wednesday, prior to the House vote on the bill.

An amendment by Rep. Ed Perlmutter (D-Colo.) was successfully added late Tuesday that would add the Secure and Fair Enforcement (SAFE) Banking Act.

The SAFE Banking Act would provide a safe harbor and other protections for financial institutions serving legal, cannabis-based businesses. The House passed the bill as a standalone earlier this year.

“Inclusion of the SAFE Banking Act puts in place necessary protections to bring revenue from state-sanctioned cannabis businesses into the financial services mainstream and, as a result, keeping communities safe,” the letter reads.

The amendment was offered by Reps. Ed Perlmutter (D-Colo.), Nydia Velázquez (D-N.Y.), Warren Davidson (R-Ohio), Lou Correa (D-Calif.), Earl Blumenauer (D-Ore.), David Joyce (R-Ohio), and Barbara Lee (D-Calif).

CUNA also supported an amendment from Reps. Madeleine Dean (D-Pa.), Kelly Armstrong (R-N.D.), Mike Turner (D-Ohio), Perlmutter, and Guy Reschenthaler (R-Pa.), which would authorize the use of use remote online notarization and create national standards and protections for its use. 

CUNA believes, “it would be in the interest of public policy to have a Federal law permitting remote online notarization” as permanent and pandemic-related requirements vary from state to state.

Credit Union Magazine: Summer 2023

Summer 2023

Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
Digital Edition •  Subscribe

Trending

  • CUNA, League, credit union-opposed interchange bill reintroduced

  • CUNA, Leagues issue action alert in opposition to interchange bill

  • CUNA urges Congress to oppose interchange legislation

Tweets by CUNA_News

Polls

Do you think ChatGPT will become useful for credit unions?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us