The US House of Representatives recently passed the Secure and
Fair Enforcement (SAFE) Banking Act, H.R. 1595 (the Act), which, if
it becomes law, would have far-reaching implications for financial
institutions considering providing a slate of financial products
and services to—or related to—marijuana-related
businesses. Specifically, the SAFE Banking Act would create a safe
harbor for depository institutions to provide banking services to
state-licensed marijuana businesses, which the Act refers to as
"cannabis-related legitimate businesses" (CRBs). But the
Act's implications go beyond deposit accounts and payment
processing services. Although the Act does not legalize or
decriminalize marijuana at the federal level, it provides that
proceeds from CRBs shall not be considered crime proceeds for
purposes of the US money laundering or other federal laws and
shields CRB loans and collateral from the risk of asset
forfeiture.1 Accordingly, if the bill becomes law,
