A bipartisan coalition of 32 state and territory attorneys general is urging Congress to pass the SAFER Banking Act, which would allow financial institutions to serve state-licensed cannabis businesses. The current cash-only environment puts businesses, employees, and communities at risk, while also hindering tax collection and economic growth. The SAFER Banking Act aims to resolve these issues by moving cannabis business funds into the regulated banking system, increasing transparency and safety without changing federal legalization policy.
All employers face challenges in navigating issues surrounding legalized marijuana. For construction industry employers, the challenges are particularly difficult given the necessary emphasis on safety.