Marijuana Banking Reform Can Pass, And Here’s How The Minority Cannabis Business Association Plans To Help (Op-Ed)

Marijuana Banking Reform Can Pass, And Here’s How The Minority Cannabis Business Association Plans To Help (Op-Ed)
MJ moment

“The reality of the status quo is that only the largest, most well-connected MSOs have enough capital to weather the storm if SAFE doesn’t pass.” By Kaliko Castille, Minority Cannabis Business Association With the 2022 midterms over and just one runoff race left to determine whether the Democrats will hold a one-vote or 50-50 majority in the Senate, all eyes (at least in the cannabis industry) are turning to the lame duck session and the hope that the Senate will finally send the Secure and Fair Enforcement (SAFE) Banking Act to President Joe Biden’s desk. Minority Cannabis Business Association (MCBA) has been supporting the SAFE Banking Act for several years in its current form, but has also put a lot of resources over the last two years into advocating for specific amendments that would improve SAFE without scaring away any Republicans who need to be talked into supporting this bill. This time last year, I wrote an op-ed for Marijuana Moment called “Cannabis Reformers Can Get SAFE Banking or Nothing From Congress—Which Is It?” which laid out the case that this Congress may be the last chance to get SAFE Banking (read: ANY cannabis industry legislation) passed until the next presidential administration. In that piece last year, MCBA called not just for SAFE Banking to pass, but for it to be amended to include “protections for Community Financial Depository Institutions (CFDIs) as well as Minority Depository Institutions (MDIs), which have a history of loaning to Black and Brown communities.” I’m here to remind folks once again that #SAFECantWait and I am proud that so many other thought leaders have similarly been pushing for an improved SAFE Banking Act to pass Recently, a good friend of mine, Amber Senter of Supernova Women put out a thoughtful piece on Marijuana Moment that…

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Source : Marijuana Banking Reform Can Pass, And Here’s How The Minority Cannabis Business Association Plans To Help (Op-Ed)

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