{"id":2092,"date":"2022-05-12T14:10:00","date_gmt":"2022-05-12T14:10:00","guid":{"rendered":"https:\/\/rosen-testing.senate.gov\/2022\/05\/12\/rosen-leads-bipartisan-group-of-senators-calling-to-include-safe-banking-act-in-competitiveness-package\/"},"modified":"2022-07-13T20:22:41","modified_gmt":"2022-07-13T20:22:41","slug":"rosen-leads-bipartisan-group-of-senators-calling-to-include-safe-banking-act-in-competitiveness-package","status":"publish","type":"post","link":"https:\/\/www.rosen.senate.gov\/es\/2022\/05\/12\/rosen-leads-bipartisan-group-of-senators-calling-to-include-safe-banking-act-in-competitiveness-package\/","title":{"rendered":"Rosen Leads Bipartisan Group of Senators Calling to Include SAFE Banking Act in Competitiveness Package"},"content":{"rendered":"<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:700\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">WASHINGTON DC<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> \u2013 Today, U.S. Senator Jacky Rosen (D-NV) led a bipartisan group of 23 Senators in a <\/span><\/span><\/span><\/span><\/span><\/span><a href=\"https:\/\/www.rosen.senate.gov\/es\/sites\/default\/files\/2022-05\/SAFE%20Banking%20Letter%20-%205.12.22%20%28FINAL%29%20%281%29.pdf\/\" style=\"text-decoration:none\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#1155cc\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:underline\"><span style=\"-webkit-text-decoration-skip:none\"><span style=\"text-decoration-skip-ink:none\">letter<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> to U.S. Senate and House Leadership and all negotiators for the innovation and competitiveness package, urging them to include the bipartisan <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> in the final version of the bill.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">Current federal law restricts legally operating cannabis businesses from accessing basic banking services and products, resulting in businesses being forced to conduct transactions only in cash. Because of this federally-imposed barrier, cannabis small businesses are repeatedly targeted by criminal actors and fall victim to cash-related safety risks, including growing incidents of theft, robbery, and violence. The <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> would finally allow licensed cannabis businesses operating in states like Nevada to have equal access to banking services.&nbsp;<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">los <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> has now passed the House six times, including most recently as a bipartisan amendment to the House-passed <\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">America COMPETES Act<\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">, but has not been taken up in the Senate despite broad bipartisan support.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">\u201cThe <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">, as included in the House-passed <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">America COMPETES Act<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">, would allow banks, credit unions, and other financial institutions to offer banking services to legally-operating cannabis businesses without fear of punishment by federal regulators,\u201d <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:700\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">wrote the Senators.<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> \u201cAllowing cannabis businesses operating legally and in compliance with state law to access financial services without federal reprisal would address public safety and compliance challenges, helping communities reduce cash-motivated crimes.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">\u201cGiven the demonstrated broad support for this measure, we ask you to ensure that the text of the <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> remains in the forthcoming final conferenced version of the jobs and competitiveness bill when it comes to the House and Senate for final votes. This will help cannabis-related businesses, support innovation, create jobs, and strengthen public safety in our communities,\u201d <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:700\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">the Senators\u2019 letter concluded.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">The bipartisan letter was co-led by Senator Jeff Merkley (D-OR) and also signed by Senators Steve Daines (R-MT), Gary Peters (D-MI), Cynthia Lummis (R-WY), Tammy Duckworth (D-IL), Dan Sullivan (R-AK), Angus King (I-ME), Kevin Cramer (R-ND), Michael Bennet (D-CO), Lisa Murkowski (R-AK), Mark Kelly (D-AZ), Martin Heinrich (D-NM), Ben Ray Lujan (D-NM), Patty Murray (D-WA), Catherine Cortez Masto (D-NV), Tim Kaine (D-VA), Bob Menendez (D-NJ), Mazie Hirono (D-HI), Kyrsten Sinema (D-AZ), Alex Padilla (D-CA), Patrick Leahy (D-VT), John Hickenlooper (D-CO), and Chris Coons (D-DE).<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2; background-color:#ffffff\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">Senator Rosen has been a leader in the fight to ensure cannabis small businesses have access to banking services. In March 2021, she helped introduce the <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">, and in November 2021, Rosen led a <\/span><\/span><\/span><\/span><\/span><\/span><a href=\"https:\/\/www.rosen.senate.gov\/es\/rosen-leads-bipartisan-effort-ensure-safe-banking-act-included-ndaa\/#:~:text=%E2%80%9CThe%20Secure%20and%20Fair%20Enforcement,of%20punishment%20by%20federal%20regulators.\" style=\"text-decoration:none\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#1155cc\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:underline\"><span style=\"-webkit-text-decoration-skip:none\"><span style=\"text-decoration-skip-ink:none\">similar bipartisan letter<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> requesting that <\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:italic\"><span style=\"text-decoration:none\">SAFE Banking Act<\/span><\/span><\/span><\/span><\/span><\/span><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\"> be included in the FY 22 National Defense Authorization Act (NDAA) after it passed via the House NDAA.&nbsp;<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:700\"><span style=\"font-style:normal\"><span style=\"text-decoration:underline\"><span style=\"-webkit-text-decoration-skip:none\"><span style=\"text-decoration-skip-ink:none\">The full text of the letter can be found <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><a href=\"https:\/\/www.rosen.senate.gov\/es\/sites\/default\/files\/2022-05\/SAFE%20Banking%20Letter%20-%205.12.22%20%28FINAL%29%20%281%29.pdf\/\" style=\"text-decoration:none\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#1155cc\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:700\"><span style=\"font-style:normal\"><span style=\"text-decoration:underline\"><span style=\"-webkit-text-decoration-skip:none\"><span style=\"text-decoration-skip-ink:none\">aqu\u00ed<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"background-color:#ffffff\"><span style=\"font-weight:700\"><span style=\"font-style:normal\"><span style=\"text-decoration:underline\"><span style=\"-webkit-text-decoration-skip:none\"><span style=\"text-decoration-skip-ink:none\">.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"line-height:1.2; text-align:center\"><span style=\"font-size:13.999999999999998pt; font-variant:normal; white-space:pre-wrap\"><span style=\"font-family:'Times New Roman'\"><span style=\"color:#000000\"><span style=\"font-weight:400\"><span style=\"font-style:normal\"><span style=\"text-decoration:none\">###<\/span><\/span><\/span><\/span><\/span><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>WASHINGTON, DC \u2013 Today, U.S. Senator Jacky Rosen (D-NV) led a bipartisan group of 23 Senators in a letter to U.S. Senate and House Leadership and all negotiators for the innovation and competitiveness package, urging them to include the bipartisan SAFE Banking Act in the final version of the bill. Current federal law restricts legally [&hellip;]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[21],"class_list":["post-2092","post","type-post","status-publish","format-standard","hentry","category-press_release","tag-jobs-and-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rosen Leads Bipartisan Group of Senators Calling to Include SAFE Banking Act in Competitiveness Package - Jacky Rosen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rosen.senate.gov\/es\/2022\/05\/12\/rosen-leads-bipartisan-group-of-senators-calling-to-include-safe-banking-act-in-competitiveness-package\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rosen Leads Bipartisan Group of Senators Calling to Include SAFE Banking Act in Competitiveness Package - Jacky Rosen\" \/>\n<meta property=\"og:description\" content=\"WASHINGTON, DC \u2013 Today, U.S. Senator Jacky Rosen (D-NV) led a bipartisan group of 23 Senators in a letter to U.S. Senate and House Leadership and all negotiators for the innovation and competitiveness package, urging them to include the bipartisan SAFE Banking Act in the final version of the bill. 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