Daily Caller patriots exclusive content
US

The ‘Green Rush’ Of Cannabis In The U.S. Has Created A Billion-Dollar Industry, But Businesses Don’t Have Access To Banks. This Bill Would Change That

Shutterstock/sarun_J

Hanna Panreck Contributor
Font Size:

As the cannabis industry continues to grow and become legal in more states, it remains illegal at the federal level. That means the businesses involved in it primarily do business in cash, with out access to the financial system. This puts cannabis businesses in precarious situations.

The Secure and Fair Enforcement Banking Act (SAFE Act), a bill passed in the House in late September, would allow for banks and financial institutions to work with cannabis businesses and eliminate extensive costs and safety concerns that come with running a cash-only operation.