Marijuana Coalition Launches New Campaign Backing Cannabis Banking Reform To Promote Equity

Marijuana Coalition Launches New Campaign Backing Cannabis Banking Reform To Promote Equity
MJ moment

A coalition of marijuana advocacy groups has launched a campaign meant to promote education about the need for cannabis banking reform, highlighting what they see as the social and economic equity advantages of freeing up businesses in the industry to access traditional financial services. Marijuana Matters, Minority Cannabis Business Association (MCBA), Minorities for Medical Marijuana (M4MM) and Women Grow have teamed up to create the “SAFE4Equity” campaign, which is meant to push for the expedient passage of the bipartisan Secure and Fair Enforcement (SAFE) Banking Act in Congress. They want to see that legislation, sponsored by Rep. Ed Perlmutter (D-CO), enacted as part of a large-scale manufacturing bill that’s currently being negotiated as part of a bicameral conference committee. While some advocates have criticized moving ahead with banking reform before comprehensive legalization is enacted, making the case that the incremental reform would principally serve deep-pocketed, mostly white-owned corporations and banks themselves, the coalition is contesting that narrative with the new campaign. Formed by @M2_ORG, @m4mmunited, @womengrow, & @MinCannBusAssoc, SAFE Banking for Equity is committed to fighting for small #cannabis businesses, especially those minority and women-owned, and their right to access equal #banking. Learn more: https://t.co/02cbaLElje pic.twitter.com/MjFv9oQjPK — SAFE 4 Equity (@safe4equity) June 2, 2022 Specifically, the groups are contending that small and women- and minority-owned businesses would uniquely benefit from the modest banking bill, in part because it would provide them with the resources to more effectively compete and operate safely in what is currently a volatile and cash-intensive industry. It’s an argument that Perlmutter has also made throughout his advocacy for his legislation, and he expressed gratitude to advocates in a press release about the campaign launch. “I appreciate SAFE4Equity’s support of the SAFE Banking Act and their ongoing advocacy for federal cannabis reform,” the congressman said. “SAFE Banking…

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Source : Marijuana Coalition Launches New Campaign Backing Cannabis Banking Reform To Promote Equity

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