Bipartisan cannabis banking bill clears U.S. House
Key Takeaways
On April 19, the U.S. House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act of 2021 (H.R. 1996) on a bipartisan vote of 321-101. The bill would shield banks and insurers from federal penalties if they choose to provide services to legitimate cannabis-related businesses.
To date, 47 states and the District of Columbia have legalized some form of cannabis for recreational and/or medicinal purposes, including CBD. This federal legislation would provide relief to what is currently a predominantly cash-only industry, which makes businesses vulnerable to robberies and other crimes, by providing access to checking accounts, loans and other banking services.
The bill now heads to the Senate, where Senate Majority Leader Chuck Schumer (D-N.Y.) has indicated his support for the legislation. However, the Majority Leader has said he would prefer to move the measure as part of a more-comprehensive criminal justice reform package, which could complicate the outlook for passage.
NACo supports legislation that would ensure greater access to banking for legally sanctioned commercial cannabis activities and will continue to monitor this legislation as it moves through Congress.
Advocacy
Cannabis reform included as part of criminal justice bill introduced by Sen. Booker
Related News
House draft bill text proposes FEMA reform package with major wins for counties
This week, the U.S. House Transportation and Infrastructure Committee’s Economic Development, Public Buildings and Emergency Management Subcommittee released draft bill text for a sweeping Federal Emergency Management Agency (FEMA) reform package aimed at improving disaster response, streamlining aid and increasing local flexibility—reflecting many long-standing county priorities.
DOJ terminates justice and public safety-focused grants
On April 22, the U.S. Department of Justice’s largest grant-making arm—the Office of Justice Programs—abruptly cancelled hundreds of grants awarded to county governments and other local jurisdictions and organizations. Approximately 365 grants have been identified for termination, which were estimated to be valued at $811 million at the time of awarding; it is unclear how much funding remained at the time of termination.
County Countdown – April 21, 2025
Every other week, NACo's County Countdown reviews top federal policy advocacy items with an eye towards counties and the intergovernmental partnership. This week features the ARPA reporting deadline, a budget reconciliation update and more