The marijuana-related banking industry took major steps forward on September 27, 2023, when the Senate Committee passed the Secure and Fair Enforcement Regulation (SAFER) Banking Act after weeks of negotiations and revisions to reach a bipartisan agreement. The bill would secure access for marijuana-related businesses (MRBs) to financial institutions. Terri Luttrell and Michael O’Neill, aka “The Cannabis Banker,” join the podcast to discuss the future of the SAFER Banking Act and what it means for financial institutions. They’ll give predictions for marijuana’s de-scheduling, what to expect from regulators, and what banks can do to work safely with MRBs in the meantime.
Helpful links:
Blog: SAFER Banking Act passes Senate Banking Committee
Webinar: Banking marijuana-related businesses
Podcast: Ahead of the curve: A banker's podcast episode 3 - Cannabis lending - Abrigo