SAFE Banking Act successfully added to House NDAA

An amendment adding the Secure and Fair Enforcement (SAFE) Banking Act to the FY22 National Defense Authorization Act (NDAA) passed by voice vote Tuesday night. The amendment, from Rep. Ed Perlmutter (D-Colo.), will be included in the final House version of the bill that will be voted on later this week.

CUNA 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.