Press Releases

Teamsters Commend Senate for Passing SAFER Banking Act Out of Committee

SAFER Banking

Legislation Critical for Guaranteeing Occupational Safety for Cannabis Workers

Press Contact: Matt McQuaid Phone: (202) 624-6877 Email:

(WASHINGTON) – The Teamsters Union commends the U.S. Senate Committee on Banking, Housing and Urban Affairs for passing S. 2860, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, earlier today.

The SAFER Banking Act would provide safer working conditions for cannabis workers by amending federal laws to allow their employers access to traditional financial services. Most legitimate cannabis proprietors are forced to work entirely in cash, which puts their staff and customers at risk of violent theft and robbery.

“As Congress works to establish the necessary guardrails around cannabis legalization, the labor and safety interests of workers must be paramount,” said Teamsters General President Sean M. O’Brien in a letter to the committee. “Passing SAFER banking is a necessary part of this process and can help improve working conditions while easing operational burdens for employers across the country.”

“This is a perfect example of the Teamsters working with responsible, ethical employers in the cannabis industry on mutually beneficial public policy,” said Peter Finn, Teamsters Western Region International Vice President and Director of the Teamsters Food Processing Division. “Everyone in the cannabis industry — workers, consumers, and business — supports the SAFER Banking Act. It puts rank-and-file cannabis workers one step closer to securing sustainable, middle-class union jobs. Congress needs to act on this commonsense bipartisan legislation as quickly as possible.”

The legislation will be scheduled for a floor vote at a later date.

Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking people in the U.S., Canada, and Puerto Rico. Visit to learn more. Follow us on Twitter @Teamsters and “like” us on Facebook at