WASHINGTON–President Trump is reportedly lobbying members of Congress to move forward with legislation that would give legal cannabis businesses access to the U.S. banking system.

Even in states where cannabis has been legalized in some form, most financial institutions—including credit unions—decline to provide services to related businesses due to the federal prohibition.

Trump is backing the renewed effort to get the Secure and Fair Enforcement Regulation (SAFER) Banking Act passed ahead of the 2026 midterm elections, according to MSN.

As the CU Daily has reported, versions of the legislation and the very similar SAFE Banking Act have passed the House on several occasions, only to eventually burn out in the Senate.

According to the Marijuana Herald,  Trump began discussions with several lawmakers last week related to the legislation.

Trump has in the past also used social media to express his support for reform of marijuana laws. 

‘Common Sense Laws’

In a 2024 Truth Social post, Trump said, “As President, we will continue to focus on research to unlock the medical uses of marijuana to a Schedule 3 drug, and work with Congress to pass common sense laws, including safe banking for state authorized companies, and supporting states rights to pass marijuana laws, like in Florida, that work so well for their citizens.”

The legislation did not pass in Florida.