SAFE Act removed from omnibus bill while introducing new proposed cannabis banking measures

The Conference Committee of Lawmakers, which coordinates differences between the House and Senate America COMPETES Acts, has dropped the SAFE Act from the omnibus bill, according to a press release from U.S. Rep. Ed Perlmutter, one of the leading proponents of the Safe Banking Act (SAFE). And a new bipartisan bill, the Capital Lending and Investment in Marijuana Businesses Act (CLIMB), introduced this week by Rep. Troy Carter, D-Louisiana, and Rep. Guy Reschenthaler, R-Pennsylvania, has similar goals to the SAFE Bank Act. the CLIMB bill would guarantee that financial institutions that work with marijuana companies are protected by federal regulators, strengthen The CLIMB Act has been endorsed by many MJ trade associations, including the National Cannabis Industry Association, the National Cannabis Roundtable, the U.S. Hemp and Industrial Hemp Trade Association, and the Medical Marijuana Women's Growth and Minority Association, among others.

Information source: mjbizdaily.com/