The SAFE Banking Act passed in the U.S. House of Representatives for the fifth time on September 23, 2021. This landmark legislation would pave the way for more financial institutions to serve the state-legal cannabis industry by removing some of the attendant legal and regulatory risks, as we have previously explained.
In a tactical decision to help the Act finally get across the finish line in the Senate, Rep. Ed Perlmutter proposed that it be included as an amendment to the National Defense Authorization Act (NDAA). The Act was added to the NDAA by voice vote on September 21, and the NDAA passed the House in a 316-113 vote on September 23.
