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News analysis

SAFE amendment to America Competes Act unlikely to be part of final proposal

Written by || 22nd February 2022 || News analysis | Regulation and legislation | GeographiesNorth America United States

The SAFE Banking Act, which sets out to protect banks from being penalised for providing services to legitimate cannabis-related businesses, is on shaky ground. After having enjoyed broad bipartisan support in both US Congressional houses, some influential members of the Senate are pushing back, while other lawmakers argue it does not go far enough. Senate majority leader Chuck Schumer of New York has indicated that he will introduce his more comprehensive bill in early April.

 

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