SAFE Banking Act of 2026

This bill establishes a legal framework allowing banks and credit unions to provide financial services to businesses operating marijuana or hemp industries under state laws without fear of losing federal protections. It specifically shields these institutions from penalties, insurance termination, or liability if they accept deposits or make loans to state-sanctioned marijuana or hemp companies. The legislation also clarifies that income from these businesses can be used to qualify for federally backed mortgages and requires regulators to update guidance on how to handle suspicious activity reports related to these sectors. Additionally, the bill mandates annual reports and studies to assess access to banking services for minority-owned and small businesses within the industry.