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Will The SAFE Banking Act Make Life Riskier For Banks?

PYMNTS

In fact, in the intervening 23 years, the situation has arguably gotten even more complex as 31 states (plus the District of Columbia) have legalized cannabis consumption for either legal or medical reasons. Even say in a dispensary that is legally operating under state law. House of Representatives gets its way.

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Fans and Foes of OCC True Lender Rule Spar at Senate Committee “Rent-a-Bank” Hearing

CFPB Monitor

The True Lender rule clarifies when, under existing law, a national bank is the “true lender” that makes a loan in the context of an arrangement between the bank and a non-bank entity that facilitates or services the loan.