The SAFE Banking Act of 2019 (HR 1595) will be up for a vote in the House this week, and with just a few clicks you can help make sure it passes!
This legislation would address one aspect of the discord between state and federal cannabis policy. While some cannabis businesses are able to find banking services, most banks are unwilling to work with such businesses due to fear of federal prosecution. As a result, many cannabis businesses are forced to operate entirely in cash, which makes businesses, their employees, and their customers potential targets for crime.
Solving the banking issue promotes public health and safety through ensuring broader patient access, improves business transparency and compliance, and reduces safety risks associated with running cash-only businesses. It will mean financial institutions can provide affordable loans to cannabis-related businesses, making running a small business more viable — particularly for applicants in social equity programs who represent communities directly impacted by the War on Drugs.
This bipartisan legislation has over 200 cosponsors in the House but will require as many as 287 votes to pass. Last week Democratic leadership announced the bill will be brought to the floor for a vote as early as Wednesday, so act now and email your U.S. Representative to urge them to support the SAFE Banking Act.
After contacting your U.S. Representative urging their support of this bill, share this action with friends and family who support sensible cannabis policies so we can amplify our impact!
Thanks for all you do in support of sensible cannabis policy,
Kelly Granahan ’19
U.S. Cannabis Policy Intern