The CEO of the National Conference of State Legislatures (NCSL) has sent a letter to Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell urging them to pass the Secure and Fair Enforcement Regulation (SAFER) Banking Act.
“Our current system relies on cash-only cannabis transactions, increasing the real risk that these cannabis businesses become prime targets for theft, burglary, armed robbery and other property crimes that jeopardize the safety of the business owners and the communities in which they operate”, said CEO Tim Storey. “The bipartisan SAFER Banking Act will create a safe environment for cannabis businesses and would allow financial institutions to provide banking services to legitimate state authorized cannabis-related businesses.”
Storey says the bill is a “much-needed solution” to the “unsafe and untenable”status quo.
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