New insurance legislative and regulatory updates from a national-and state-level. (Photo: iStock) New insurance legislative and regulatory updates from a national-and state-level. (Photo: iStock)

Editor's Note: At the start of each month, we publish insurance legislative and regulatory news and updates from around the nation.

National updates

The U.S. House of Representatives passed HR 1595, the SAFE Banking Act of 2019, in a 321-103 vote. The bill contains key provisions that allow financial services, including credit cards and savings accounts, to become available to legitimate marijuana businesses in states where such business is legal. The bill will now head to the Senate for a vote.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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