Even with ongoing momentum from six passages in the U.S. House, the Secure and Fair Enforcement (SAFE) Banking Act was dealt another defeat June 23.
The act, which many advocates hope will provide clarity and safe harbor to financial institutions servicing state-legal cannabis industries, was removed Thursday from the America COMPETES/USICA Act—extensive legislation that involves a historic investment to surge production of American-made goods and tackle supply-chain vulnerabilities to increase global competitiveness, among other priorities.
Passing SAFE Banking would improve safety and opportunities for hundreds of thousands of people and foster economic development in a majority of states, reform group NORML’s Political Director Morgan Fox said in a news release Thursday.
“It is mind-boggling that this is now the sixth time that SAFE Banking has been approved by…
