Federal Marijuana Banking Safe Act In Limbo; Declining Asset Values Add Risks For Secured Lenders

LexisNexis (January 30, 2023, 2:50 PM EST) -- Federal legislation giving financial institutions the green light to bank marijuana-related businesses (MRBs) is stymied in Congress. The U.S .House of Representatives did pass the Safe Banking Act (SAFE Act) with bipartisan support, but the Senate failed to act upon the legislation during the 117th Congress....