The Secure and Fair Enforcement Act, or “SAFE Banking”, is in the news again, having failed to gain inclusion in the National Defense Authorization Act (NDAA) for FY 2022.  The story remains the same:  Democratic senior leadership refuse to take a granular approach cannabis reform, insisting cannabis policy include social reforms that could be difficult to achieve without the added momentum of banking interests. 

The House has been more than willing to take up cannabis banking, which impacts a much broader cohort on the hemp side than one would imagine.  Hemp trade organizations and hemp clothing companies alike have been rejected by major banks, simply because their name contains the word ‘hemp’.  Cannabis banking has broad bipartisan support.  The act has cleared the House five times, with relative ease.

We’re reluctant to give the minutiae of SAFE Banking much coverage, but it has been a part of Hemp Bulletin…