As Congress returns after the August recess, one of CUNA’s top legislative priorities is advancing the SAFE Banking Act (H.R. 1595/S. 1200), a bill that would provide protections to financial institutions serving legal cannabis-based businesses.
Under new interim guidance released today by the National Credit Union Administration, federally insured credit unions can provide certain financial services to legally operating hemp businesses. The move comes on the heels of a request for clarification by Senate Majority Leader Mitch McConnell.
Rachel Pross, Chief Risk Officer at Maps Credit Union, Salem, Ore., will testify on CUNA’s behalf before the Senate Banking Committee Tuesday during a hearing titled “Challenges for Cannabis and Banking: Outside Perspectives.”