NAR Support Letter to Representatives Perlmutter, Stivers, Velázquez, and Davidson Regarding the "Secure and Fair Enforcement (SAFE) Banking Act of 2021"

On March 18n NAR sent a letter to Representatives Perlmutter, Stivers, Velázquez, and Davidson. The letter thanks the Legislators for introducing the "Secure and Fair Enforcement (SAFE) Banking Act of 2021." This bipartisan bill provides a clear framework for cannabis businesses to access financial services. As more states legalize cannabis use, the industry continues to rapidly grow, with more than $10 billion in sales and $1 billion in state tax revenue already recorded. However, the barriers keeping these state-legal businesses from accessing federally-insured banks can impede their ability to grow while raising safety issues in their communities. The SAFE Banking Act provides clarity for business owners, banks, and regulators in the cannabis industry while promoting safety and ensuring further growth to the U.S. economy.