Sixteen US state governors have written to congressional leaders asking them to pass the Secure and Fair Enforcement Banking (SAFE) Act, which would give state-licensed cannabis businesses easier access to banking services. The letter was sent on Monday 10 November 2026, as first reported by Marijuana Moment.

The letter was led by Maryland Governor Wes Moore, who chairs the National Governors Association. All 16 signatories are Democrats. They include the governors of Colorado, Connecticut, Delaware, Illinois, Kentucky, Maine, Massachusetts, Michigan, Minnesota, New Mexico, New York, Oregon, Virginia, Washington and Wisconsin.

What the governors say

The governors argue that the gap between state and federal law creates public safety and governance problems. They note that nearly every US state has now legalised cannabis in some form, yet federal law still treats the proceeds as illegal.

The letter says state-sanctioned cannabis businesses largely operate in cash, which denies them basic services such as business loans, payroll systems and credit processing. It adds that handling large amounts of cash can make them targets for robbery and violent crime, and that state agencies face difficulties depositing tax payments and processing licensing fees.

The governors say the SAFE Banking Act would let these businesses move into regulated institutions and support “accountable oversight”. They describe it as a “pragmatic solution that respects state sovereignty”. The letter cites the Trump administration’s move to reschedule marijuana at federal level.

In a post on X, Moore said legal cannabis businesses in Maryland “still run mostly on cash”, which he said makes them targets for robbery and puts workers, customers and the surrounding community at risk.

Legislative background

Bipartisan groups of House and Senate members filed versions of the bill in June. Earlier versions have been introduced in previous sessions of Congress, and the House of Representatives has approved versions several times, but the reform has never become law. The Senate Banking Committee approved a cannabis banking measure in 2023, but it was not taken up on the Senate floor and lapsed at the end of the 118th Congress.

Last year, 32 state and territory attorneys general sent a letter urging Congress to pass the bill. In July, the American Bankers Association also urged congressional leaders to support banking legislation, saying it would provide legal and regulatory clarity.

In September, the Government Accountability Office reported that many banks remain reluctant to serve state-licensed cannabis businesses. It found no indication that any bank had been penalised solely for working with the industry, but said a perception of regulatory risk meant that obtaining and keeping financial services remained difficult.

Why it matters in the UK

The US is the world’s largest legal cannabis market, and its approach to banking and federal reform is watched closely by the industry elsewhere. In the UK, cannabis remains a Class B drug under the Misuse of Drugs Act 1971, although specialist doctors have been able to prescribe cannabis-based medicines since 1 November 2018.