Rep Heck: We’re late to implement the SAFE Banking Act. Read his press release, the draft bill & full meeting package
Cannabis Law Report
FEBRUARY 13, 2019
Support for the SAFE Banking Act was vocalized by several witnesses, including in testimony from California State Treasurer Fiona Ma , “To sum, an effective safe harbor mechanism in federal law promotes the safety of the public, improves the efficiency of collecting the taxes and fees we use to regulate the industry, and does not allow the banks and credit unions to totally abdicate their responsibilities to know their customers and avoid illicit money laundering.”.