Boomstein Quoted in Law360 on the House Approval of the SAFE Banking Act

House Passes Safe Harbor For Banks To Serve Cannabis Cos.
– Law360

Financial services partner Anita Boomstein spoke with Law360 on the U.S. House of Representatives’ recent vote to approve the SAFE Banking Act. In the article, Boomstein notes that banks should still have a comprehensive compliance procedure in place to ensure that cannabis customers are operating legally under the applicable state law. “But assuming the bank can satisfy that hurdle, the bill would remove the threat of criminal liability, adverse supervisory action by its federal regulator, or seizure of funds from cannabis-related transactions, all of which have haunted banks up until now,” she said.

Read the article here