GOVERNOR URGES CONGRESS TO ADVANCE SAFE BANKING ACT

Maryland Governor Wes Moore is joining counterparts from other states in urging Congress to advance the SAFE Banking Act. He says almost every state has made cannabis legal in some way, but federal law still treats the money from legal cannabis businesses as illegal. He says that forces the businesses to run largely on cash and stops them from easily getting loans and accepting credit cards. He says it leaves communities less safe by making those businesses targets for robbery. The SAFE Banking Act is designed to give banks and financial institutions a federal safe harbor to serve state-legal cannabis businesses without facing penalties.