
Earlier this week, members of the U.S. House of Representatives and U.S. Senate reintroduced legislation that would allow regulated financial institutions to work with state-licensed cannabis companies. The Secure and Fair Enforcement (SAFE) Banking Act of 2023 would disallow federal banking authorities from prohibiting, penalizing, or discouraging banks from providing financial services to state-licensed cannabis businesses and their networks of counterparties, advisors, and vendors.