SAFER Banking Act Offers US Banks “Safe Harbour” to Fund Growing Cannabis Industry

This article discusses the SAFER Banking Act, a proposed bill that would allow legally operating cannabis businesses the same access to financial institutions as other legal businesses.

As seen in the article, “The SAFER Banking Act could also nudge the door open to federal legalisation of cannabis, which would provide banks with a ‘safe harbour’ from criminal, civil and administrative penalties, predicts Jason Gross, member at Sills Cummis & Gross and co-chair of a cannabis industry practice group in New Jersey.”