U.S. House Passes SAFE Banking Act as Amendment to Defense Bill

U.S. House Passes SAFE Banking Act as Amendment to Defense Bill

<![CDATA[The U.S. House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act for the seventh time last week, this time as an amendment to the fiscal year 2023 National Defense Authorization Act (NDAA).Rep. Ed Perlmutter, D-Colo., attached the SAFE Banking Act to the NDAA earlier this month, and lawmakers approved the NDAA with the SAFE Banking amendment July 14, according to Financial Regulation News.RELATED: UPDATE: Rep. Perlmutter Makes Final Push on SAFE Banking“Today marks the *7th time* the #SAFEBankingAct has passed the U.S. House,” Perlmutter, the SAFE Banking Act’s original sponsor, said in a tweet on Thursday. “I’m calling on the Senate to take action for the safety of our communities and success of Veteran- and minority-owned businesses across the country. It’s time to get this done.”The SAFE Banking Act, which would prohibit federal regulators from taking punitive measures against financial institutions that provide services to state-legal cannabis businesses, cleared the U.S. House six times prior to last week’s passage, including twice as a standalone bill, but has stalled each time in the Senate.This is the second consecutive year that Perlmutter has included SAFE Banking in the NDAA; last year, lawmakers removed the banking provisions from the final version of the defense spending bill in December.The NDAA authorizes appropriations for the Department of Defense’s military activities, military construction and military personnel, and must be ratified annually.The House also passed the Veterans Equal Access Act as another amendment to the NDAA last week, according to Financial Regulation News. That legislation directs the Department of Veterans Affairs (VA) to allow its health care providers to discuss participation in state-legal medical cannabis programs with their patients, the news outlet reported.The roughly $840-billion NDAA bill, formally known as H.R. 7900, must now be reconciled with the Senate’s version.“The House has shown once…

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Source : U.S. House Passes SAFE Banking Act as Amendment to Defense Bill

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