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ABA: The American Bankers Association

ABA Statement on SAFER Banking Act

“We applaud the Senate Banking Committee for advancing the SAFER Banking Act and thank Senators Brown, Merkley, Daines, Schumer, Sinema, Lummis and Cramer as well as the additional cosponsors for their leadership. This urgently needed, bipartisan legislation will resolve the ongoing conflict between state and federal law so that banks can serve state-authorized cannabis and cannabis-related businesses while enhancing public safety, tax collection and financial transparency. The status quo is simply untenable for consumers, small businesses and banks operating in states where cannabis is legal. Based on today’s bipartisan vote, we urge the full Senate to promptly consider this bill.” 


About the American Bankers Association

The American Bankers Association is the voice of the nation’s $23.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2.1 million people, safeguard $18.6 trillion in deposits and extend $12.3 trillion in loans.

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