Calculations

Maine Senator Angus King Urges Action on SAFE Banking Act

November 15th, 2019, Adult-use, Banking, Cannabis Law, Hemp, Medical, Public Policy

Maine’s Independent Senator, a cosponsor of the bill, urges Senate Banking Committee Chairs to move forward

Senator Angus King (I-Maine) recently sent a letter to Senate Banking Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) to consider the Secure and Fair Enforcement (SAFE) Banking Act that has already passed the United States House of Representatives.

 

In the letter, King emphasized the need for legal hemp and cannabis businesses to access traditional financial services as any other legal business would; he used the recent example of a Maine hemp farm that had its insurance and banking access revoked. King’s letter also addressed the issues that accompany a cash-based business model and how that complicates normal business functions.

 

The full letter can be read here.