Congress to Consider SAFE Banking Act. YOU Can Help
280E, the scourge of legal cannabis operations around the country may be up for reform. Tuesday July 23rd, the United States Senate Committee on Banking, Housing, and Urban Affairs will hold hearings on HR1595, the SAFE Banking Act of 2019, sponsored by Colorado Rep. Ed Perlmutter.
Both NORML and NCIA are focusing on this piece of legislation, which will be the first time members of the Senate have officially considered cannabis banking reforms. As the NCIA explains:
“The SAFE Banking Act would prevent federal banking regulators from punishing banks for working with cannabis related businesses that are obeying state laws or halting their services, taking action on loans made to those businesses, or limiting a depository institution’s access to the Deposit Insurance Fund.”
NORML is collecting horror stories cannabis businesses across the country to enter into the Congressional Record. Any canna-business who has been harmed by the cash-only cannabis economy enforced by 280E is invited to email comments to NORML Executive Director, Justin Strekal, at:
You can contact your senator here. Or learn more about the push to reform cannabis banking at NORML’s Action Alert Center.
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