Luria votes to protect financial institutions serving cannabis-related businesses
Second District Congresswoman Elaine Luria voted Monday for the Secure And Fair Enforcement (SAFE) Banking Act of 2021 (H.R. 1996), a bipartisan bill to create protections for banks and other lending institutions that provide financial services to cannabis-related businesses and service providers for such businesses.
“These lawful businesses have as much a right to access the same financial services as other businesses, and these financial institutions shouldn’t be penalized for their work in an emerging market,” said Luria, who co-sponsored H.R. 1996. “I’m glad to see Congress come together to support commonsense legislation that supports economic growth.”
Throughout her time in office, Luria has been a strong advocate for additional cannabis policy reforms. Last year, she voted for the Marijuana Opportunity Reinvestment and Expungement (MORE) Act (H.R. 3884), which she cosponsored.
This bill would decriminalize marijuana on the federal level, which will permit states to regulate cannabis more effectively.
Earlier this month, Virginia legislators voted to decriminalize marijuana, becoming the first state in the South to do so.