SAFE Act

The SAFE Act, or Secure and Fair Enforcement Banking Act, is legislation that aims to give legal protection to banks and financial institutions that provide banking services to cannabis-related businesses. Because federal laws still classify cannabis as illegal, many banks are hesitant to work with these businesses out of fear of legal repercussions. The SAFE Act ensures that banks won't be penalized or face federal charges for offering banking services to state-legal cannabis companies, helping to legitimize and regulate the industry, reduce cash handling, and improve safety and transparency.