SAFE Banking Act of 2026

This bill would bar federal banking regulators from penalizing banks, credit unions, and insurers solely for serving marijuana businesses that operate legally under state or tribal law, or the companies that serve them. It would state that money from these businesses is not treated as proceeds of unlawful activity under federal money-laundering laws, and would protect financial institutions from federal liability and forfeiture for providing such services. It would require income from state-legal marijuana businesses to be treated like other legal income when qualifying for federally backed home mortgages. It would also limit when federal agencies can ask banks to close customer accounts, require written reasons not based mainly on reputational risk, apply the same protections to hemp businesses, and call for new guidance, reports, and studies.

Full text and official record on Congress.gov

Sponsors

• Jeff Merkley Democrat sponsor
• 7 cosponsors