SAFE Banking Act of 2026

Key Points

• Federal regulators would be banned from punishing banks, credit unions, or insurers just because they serve legal marijuana businesses. This means cannabis companies in states where marijuana is legal could finally open standard bank accounts and use normal payment systems instead of relying on cash.
• Money from state-legal marijuana sales would no longer count as illegal proceeds under federal money laundering laws. This removes a major legal risk that currently scares banks away from working with cannabis companies.
• People who earn income from state-legal cannabis businesses would be allowed to use that income to qualify for government-backed home loans, including FHA, VA, and USDA mortgages. Right now, many cannabis workers cannot buy homes because their income comes from a federally illegal source.
• Businesses that provide services to marijuana companies, like landlords, lawyers, and equipment suppliers, would also be protected from losing their bank accounts or facing federal liability for working with cannabis clients.
• The bill also addresses hemp businesses that still struggle to access banking despite hemp being federally legal since 2018. Banking regulators would have 90 days to update their guidance to help hemp businesses get financial services.
• Federal agencies would need a written determination of unsafe practices or legal violations before ordering a bank to close any customer's account, and they could not base that decision solely on reputational risk. This protects cannabis businesses and others from politically motivated debanking.