Why are big insurance companies pushing for the SAFE Banking Act?

4/25/19–The Secure and Fair Enforcement Banking Act of 2019, commonly referred to as the SAFE Banking Act, would provide banks and federally-regulated creditors with ties to state-legal marijuana businesses with legal protection from prosecution. A number of large insurance companies and industry associations are chiming in because they see the “exploding” marijuana market, yet the insurance industry is grappling with risks associated with federal illegality. Read