FOR IMMEDIATE RELEASE
February 4, 2022
Credit Union National Association reacted to the recent passage of the Secure and Fair Enforcement (SAFE) Banking Act, which was added as an amendment to the America COMPETES Act. The SAFE Banking Act would provide protection to credit unions, and other financial institutions, that serve cannabis-based businesses in states where it is legal.
“We thank House members for including this bill in the bipartisan America COMPETES Act. This bill addresses an important public safety issue by providing legal businesses access to financial services,” said CUNA President/CEO Jim Nussle.
CUNA has long supported the SAFE Banking Act as it would prohibit federal regulators from penalizing depository institutions for serving legitimate marijuana-related businesses staff and other entities.
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by more than 130 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.