HARRISBURG, PA — Pennsylvania Attorney General Dave Sunday has joined 31 other attorneys general in urging Congress to pass the SAFER Banking Act of 2025. The proposed legislation would allow financial institutions to serve state-regulated cannabis businesses, addressing longstanding challenges around public safety and regulatory oversight.
In a bipartisan letter to congressional leaders, the coalition emphasized that current federal banking restrictions force legitimate cannabis businesses to operate primarily in cash, increasing their vulnerability to robbery and financial crimes. The attorneys general argue that this not only endangers workers and customers but also hinders the ability of state agencies to monitor, regulate, and tax the industry effectively.
According to the letter, integrating cannabis businesses into the traditional banking system would improve transparency, enhance law enforcement efforts, and support tax compliance. The legislation would also provide a legal safe harbor for banks and credit unions serving cannabis-related businesses in states where marijuana use is permitted by law.
Currently, 39 states, three territories, and the District of Columbia allow medical cannabis use, while 24 states and two territories permit adult-use. Despite legalization at the state level, the federal ban creates operational barriers for both private-sector businesses and public agencies.
The attorneys general also note that while the bill would not change the legal status of cannabis under federal law, it would remove uncertainties for financial institutions operating in compliance with state regulations. The goal is to increase safety, improve regulatory accountability, and ensure that tax revenues tied to the cannabis industry are handled within the legal banking system.
Sunday was joined in the letter by attorneys general from Maryland, Ohio, Georgia, the District of Columbia, and more than two dozen other states and territories across the U.S. The coalition framed the SAFER Banking Act as a practical, bipartisan solution that respects state law while addressing a growing national issue.
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