The Secure and Fair Enforcement Banking Act (SAFE) has this week been approved by The House Finance Committee and will now pass to Congress for approval. It is believed that congress will pass the bill as it has bipartisan support.
SAFE will allow Cannabis companies to gain access to loans and help them deal with larger cash transactions. Up until now this has been difficult: financial institutions face prohibition laws at a federal level doing business with cannabis companies in States where Cannabis is legalized. The bill will allow financial institutions safety from federal laws if they do business with companies in the cannabis industry.
Read More: Newsmax