
Illinois State Treasurer Frerichs Urges Swift Passage of Federal SAFE Banking Act
SPRINGFIELD — Illinois State Treasurer Michael Frerichs today urged swift passage of federal legislation that will bring safety, certainty and security to the financial institutions that support the industry. The U.S. House of Representatives this week passed the Safe Banking Act 321-103 with strong bipartisan support. The legislation would allow financial institutions such as banks and credit unions to legally provide financial services to legal cannabis businesses. The legislation now goes to the Republican-led Senate for approval. Such legislation was first introduced in 2013. Frerichs has urged Congress and President…
