Banking Posts

SAFE Banking Act Vote Next Week

Wall Street Awaits Cannabis Banking Vote in Congress Next Week: (“Analysts are keeping a close watch on a House committee vote scheduled for Tuesday on a bill to get cannabis industry cash off the streets and into bank accounts.  Called the ‘SAFE Act,’ the measure would allow banks to service cannabis companies that comply with state laws. * * * The vote is likely to come on March 26 and the measure will probably pass, analysts say, even though some Republicans are said to have raised questions about measures designed to prevent money laundering and ensure compliance with bank secrecy laws.”)