Rep. Mace Votes to Pass Bill Allowing Legal Cannabis Businesses to Access Banking

Press Release

Congresswoman Nancy Mace (SC-01) this week voted to pass the SAFE Banking Act, which would allow legal cannabis businesses to access the banking system without fear of federal prosecution.

"Thirty-seven states have legalized cannabis for medical, industrial, or recreational use, and thousands of marijuana-based businesses are operating within those laws. These are small businesses who are legally and safely using cannabis in agriculture, clothing, health care, and countless other fields," Mace said. "Yet none of these businesses have access to legal financial services because any bank who works with them is treated like a nefarious drug dealer under federal law. This is a massive overreach into state law, which does nothing but hurt law-abiding Americans. Our bill corrects this bureaucratic mess."

Rep. Mace is an original co-sponsor of the SAFE Banking Act.

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