Re: Support the Secure and Fair Enforcement (SAFE) Banking Act for Passage: Reform Banking System
The SAFE Banking Act would allow banks, credit unions, and other financial institutions to offer banking services to legally operate cannabis businesses without fear of punishment by federal regulators.
SMACNA members employ the highest skilled workforce and as quality-driven contractors understand that S.\n910 represents significant reform to the banking system that will boost private investment in cannabis-related and allied building, banking network infrastructure. From countless examples of working with the legally authorized cannabis industry and contracting to build and service their production facilities, SMACNA member firms understand the merit in passing the SAFE Act. Fairness and equity argue for enactment of legislative reforms to banking relationships between local banks, contractors and legitimate cannabis related small businesses. Again, we support adding The SAFE Act to the Omnibus package or any other legislative vehicle, to reform rules limiting depository institution’s ability to provide financial services to the cannabis and their related business enterprises and urge your support for passage.
Dec 17, 2022 — Letters & Testimony
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