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WASHINGTON (September 27, 2023) – National Association of Realtors® President Tracy Kasper issued the following statement after Congress introduced the Secure and Fair Enforcement Regulation (SAFER) Banking Act:
"On behalf of the 1.5 million members of the National Association of Realtors®, we thank Congress for introducing the SAFER Banking Act. Since 2019, NAR has supported efforts by Congress to create a clear framework and open up access to financial services for cannabis businesses and those who provide services to them.
"The ties to other industries, including real estate, will strengthen as the legal state cannabis economy expands. These businesses require farmland, warehouse space, and storefronts, leading to multiple links with other industries and businesses. These connections are all impacted by the current laws which are keeping their money out of the bank system. The SAFER Banking Act promotes safety and ensures continued expansion of the American economy while providing clarity for business owners, banks, and regulators in the cannabis industry."
The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.
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