By Rose Oswald Poels, WBA president and CEO
I encourage each member to contact Congress today to urge lawmakers to support the SAFE Banking Act.
The Secure and Fair Enforcement Banking Act (SAFE Banking Act) of 2026 would provide much-needed legal and regulatory clarity regarding proceeds from state-legal marijuana businesses. The legislation would establish protections for financial institutions that provide services to State-sanctioned marijuana businesses and their service providers, helping banks safely serve these customers without fear of federal penalties. This legislation has been introduced and passed in the House in previous sessions of Congress, and WBA is pleased to see it introduced again this session. Throughout the last few years in our meetings with the Wisconsin Congressional delegation, WBA and bankers in attendance have repeatedly requested support and passage of the SAFE Banking Act.
Wisconsin has yet to legalize marijuana; however, our neighboring states of Illinois, Michigan, and Minnesota have legalized recreational and medical marijuana use. As a result, Wisconsin banks with branches near state borders or in those states are concerned about the legality of supporting marijuana-related businesses operating legally in those states, despite their longstanding role in supporting local businesses and communities.
In addition, there have been efforts in recent state legislative sessions to legalize marijuana in Wisconsin, and many believe it is a matter of time before the issue is reconsidered. This is all the more reason to encourage Congress to act now so Wisconsin banks have clarity in the law regarding banking legally-operating marijuana businesses and service providers.
The process to contact your Congressional members is quick and easy through the ABA grassroot tool. At the time of this release, ICBA did not yet have a grassroots alert regarding the SAFE Banking Act. However, I will continue to monitor developments and share any additional advocacy tools that become available.
Amplify your voice by acting today!
