Late last week, the U.S. House of Representatives passed provisions of the SAFE Banking Act as part of the America COMPETES Act, marking the sixth time cannabis banking legislation has been approved by the chamber.
Congress is now negotiating the fate of a bill that would make it easier for cannabis businesses to get basic banking services. The SAFE Banking Act, which would allow banks to legally work with state-licensed cannabis businesses, was recently added to a must-pass piece of legislation currently under consideration — the National Defense Authorization Act (NDAA). We are asking for your help to ensure it passes.
The U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) in a bipartisan vote of 321-101. The bill now moves to the U.S. Senate for consideration.
President-elect Biden will soon announce his pick for the next Attorney General, and rumors are already swirling over possible candidates. For cannabis consumers and patients, as well as reformers, regulators, and members of the industry, few roles in the federal government will be more important than that of the United States Attorney General.
Call your Senator and urge them to include cannabis banking reform in the next relief package.
Yesterday, House leadership released a coronavirus relief bill that includes provisions to protect banks that service cannabis businesses from being penalized by federal regulators.
MPP has advocated for cannabis reform to be incorporated into COVID-19 legislation, including by sending a letter to House leadership and signing onto a letter with allies urging Congressional lawmakers to add the Secure and…
We have big news to share: Just now, the U.S. House of Representatives approved the SAFE Banking Act (H.R. 1595) in a 321-103 floor vote! Today’s vote was historic, as the SAFE Banking Act is the first standalone cannabis bill to ever receive a full vote in Congress.
This legislation would prevent federal financial regulators from punishing financial institutions that provide services to state-legal cannabis businesses. Currently, most banks are unwilling to work with the cannabis industry because…
The emerging cannabis industry — with $17 billion in sales this year — is currently troubled by a lack of racial diversity within its ranks. It is impossible to ignore the fact that members of the African American community and other racial minorities have paid a particularly high price in the war on cannabis. When the business community that follows legalization leaves behind people of color, there is cause for concern.
Recently, equity in the cannabis industry has moved to the forefront of many…
Urge your U.S. Representative to support the SAFE Banking Act of 2019!
Today, 33 states and the District of Columbia have enacted laws allowing for either medical or adult-use cannabis. An additional 14 states allow for limited medical use. But under current law, financial institutions providing banking services to legitimate and licensed cannabis businesses under state laws are subject to criminal prosecution under several federal statutes, such as "aiding and abetting" a federal crime and money…