Hemp

The SAFE Banking Act and its’ Importance for the Legal Cannabis Industry

The SAFE Banking Act and its’ Importance for the Legal Cannabis Industry

In the past, hemp farmers struggled to secure financial capital to run viable farms. However, the passing of the 2018 Farm Bill launched a series of federal legislation that aided farmers interested in the THC industry. The SAFE Banking Act is the newest piece of federal legislation that provides a safety net for banks to lawfully work with the hemp industry without being subject to the heightened regulatory scrutiny necessary to work with the marijuana sector. In this blog post, 2L staffer Vincent Kleindienst explores the impact of the SAFE Banking Act.