The Banking Act that protects financial institutions that serve cannabis businesses.
Las Vegas, NV, Oct. 02, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Hemp, Inc. (OTC PINK: HEMP) applauds the House of Representatives for passing the Secure and Fair Enforcement (SAFE) Banking Act that protects financial institutions that serve cannabis businesses.
This historic SAFE Banking Act was the first-ever standalone reform bill pertaining to cannabis to clear one of the chambers of Commerce. Now, the SAFE Banking Act will head to the Senate for a vote.
The expectation of the bill is to provide clarification to credit unions and banks that service cannabis companies. This act pertains to various areas of business banking such as bill payments.