Secure and Fair Enforcement Banking Act Reintroduced

On Thursday, Representative Ed Perlmutter (D-Colorado) reintroduced the Secure and Fair Enforcement (SAFE) Banking Act of 2021. The bill was authored by Representative Perlmutter and co-sponsored by more than 100 members, including RCRC Delegation members: Jimmy Panetta (D-Carmel); Juan Vargas (D-San Diego); Salud Carbajal (D-Santa Barbara); Jared Huffman (D-Marina); John Garamendi (D-Walnut Grove); and, Tom McClintock (R-Elk Grove).  Crucially, the bill would allow cannabis-related businesses in states with robust regulatory structures to access the banking system.  Senate Majority Leader Chuck Schumer (D-New York) and other Congressional Democrat leaders have expressed their desire to address cannabis legislation in this Congress; however it remains to be seen if and when the Senate would take up such a measure.  RCRC sent a letter of support for the bill’s reintroduction, which was shared by Representative Perlmutter’s office (the press release can be accessed here; RCRC’s letter of support can be accessed here).