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An overwhelming bipartisan majority of in the United States House of Representatives passed the SAFE Banking Act last week which aims to resolve some of the differences between state and federal law with regard to recreational and medicinal use of cannabis in the 33 states where it is legal in some form. The SAFE Banking Act will allow banks to serve cannabis-related businesses and non-cannabis related businesses that provide goods or services to the cannabis industry in states where cannabis has been legalized, and would prohibit federal regulators from taking any type of enforcement action against a bank solely because cannabis is involved.
All three of our representatives from West Virginia voted in favor of the SAFE Banking Act and here at WVBankers we would like to extend a special thank you to Congresswoman, Carol Miller (R-WV3) and Congressmen, Alex Mooney (R-WV2) and David McKinley (R-WV1) for their support of this important piece of legislation! We would also like to thank the following grassroots advocates who participated along with bankers from all across the country in our efforts to get the SAFE Banking Act passed in the U.S. House:
Jim King - Bank of Monroe
Mark Bias - Premier Bank
Alan Brill - Capon Valley Bank
Chad Mildren - United Bank
Travis Delaplain - FNB Bank
Jared Moncman - Pleasants County Bank
Gabby Newcomer - FNB Bank
John Reed - MCNB Banks
Tom Whaling - West Union Bank
Teresa Cunningham - Williamstown Bank
Sherry Evans - Poca Valley Bank
Please contact Loren C. Allen, General Counsel and Director of Government Relations for the WVBankers at
[email protected] or 304-343-8838 with any questions you may have regarding the SAFE Banking Act. If you would like to get involved as a grassroots advocate for your bank and the banking industry (
click here) for instructions on how to register as a user through our advocacy platform provided by VoterVoice.
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