To create protections for financial institutions that provide financial services to State-sanctioned marijuana businesses and service providers for such businesses, and for other purposes.
About This Bill
Committee
Latest Action · June 25, 2026
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The SAFE Banking Act of 2026 permits banks, credit unions, and other financial institutions to serve state-authorized marijuana businesses and their service providers without federal penalties, while establishing clear definitions of eligible entities and activities covered by the law. The bill requires the Treasury Secretary to update guidance within 180 days on how financial institutions should report suspicious transactions involving legal marijuana businesses, balancing the need to detect genuinely illegal activity with the ability to provide banking services. Federal banking regulators are prohibited from ordering banks to terminate accounts based primarily on reputational risk and must provide written justification for any termination order, with annual reporting to Congress on such requests. The legislation clarifies that financial institutions remain free to choose whether to serve marijuana businesses and that federal regulators retain their normal examination and enforcement powers, while law enforcement can continue investigating money laundering connected to illegal operations. Overall, the bill aims to bring state-legal marijuana businesses into the mainstream financial system while preserving appropriate federal oversight and law enforcement capabilities.
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