House Passes SAFE Banking Act

The House of Representatives voted overwhelmingly Wednesday to approve the SAFE Banking Act (HR 1595), which would allow state-legal marijuana businesses to get access to banking and other financial services.

The vote was 321-103, with near unanimous support from Democrats, as well as nearly half of Republicans. The industry pronounced itself pleased.

"We applaud the House for approving this bipartisan solution to the cannabis banking problem, and we hope the Senate will move quickly to do the same, " said Neal Levine, CEO of the Cannabis Trade Federation, which lobbied in support of the bill. "This vital legislation will have an immediate and positive impact, not only on the state-legal cannabis industry, but also on the many communities across the nation that have opted to embrace the regulation of cannabis. Allowing lawful cannabis companies to access commercial banking services and end their reliance on cash will greatly improve public safety, increase transparency, and promote regulatory compliance. "

The vote came although some civil rights and drug reform groups had called for it to be put off until more comprehensive marijuana or criminal justice reform could be enacted. They argued that passage of a narrowly targeted financial services bill could erode momentum toward broader reforms.

The Drug Policy Alliance (DPA) was one of those groups. In a statement released after the vote, the group said it had no problem with the banking bill but wanted more.

"We had no objections to the substance of the SAFE Banking bill. However, DPA and allies from the civil rights community sent a letter of concern because we believe it is a mistake for the House to pass an incremental industry bill before passing a comprehensive bill that prioritizes equity and justice for the communities who have suffered the most under prohibition, " said Queen Adesuyi, Policy Coordinator at DPA's Office of National Affairs.

DPA is pushing for passage of the MORE Act, which would federally deschedule marijuana.

"We have long feared that passing SAFE Banking would undermine passage of the MORE Act by taking the momentum out of marijuana reform, " said Adesuyi. "The onus is now upon House Democrats to prove us wrong and pass the MORE Act. We are encouraged by the announcement from House Judiciary Chairman Jerry Nadler that he intends to hold a vote on MORE and will push him in the coming weeks to commit to a date. We also thank Majority Leader Hoyer for his commitment to work with Mr. Nadler and others to advance broader marijuana reform in this Congress. The marijuana banking bill cannot be the end of the road for marijuana reform this Congress. "

But even the banking bill must get through the Senate, where it is not clear it can pass. A companion version of the SAFE Banking Act (S.1200) was introduced in April by Sens. Jeff Merkley (D-OR), Cory Gardner (R-CO) and a bipartisan group of 21 original cosponsors. It currently has 33 total cosponsors. Earlier this month, Senate Banking Committee Chairman Mike Crapo (R-ID) said his committee will take up the cannabis banking issue this year and is working on preparing a new bill.

"This is a serious public safety matter that needs to be addressed by Congress this session, " Levine said. "It is only going to grow in urgency and magnitude as states continue to roll back cannabis prohibition policies. Enacting the SAFE Banking Act would greatly bolster state's efforts to promote safety, regulatory compliance, and equity within the cannabis industry. Cannabis-related companies are lawfully operating in states around the country, and they deserve the same access to banking that is afforded to every other type of lawful business. "

Permission to Reprint: This article is licensed under a modified Creative Commons Attribution license.
Looking for the easiest way to join the anti-drug war movement? You've found it!

employee portal

The user of the Apple iPad can finally, download the iOS 13.1 as of now. According to the sources, the Cupertino tech giant has released the iOS 13.1 which the users of iPad Air 2 and later, as well as iPad Mini 4 and later can use to download. Apple has also released the list of iPads models which would support the cutting-edge iOS 13.1. employee portal

Pot and Legislation

Weed is so caught up in legislation. Opening a window into the past, I bet the same thing could have been said about way alcohol back in the day.

It's awesome that we're making progress though. A bipartisan solution is the only way anything will work out.

The quality of your paper

The quality of your paper directly depends on the chosen topic. Hire  professional writer service to be sure that you choose the best topic. 

I am not much into reading,

I am not much into reading, but somehow I got to read nice information on your site. Simple to understand and helpful. We will look forward for your future updates.Thanks! mobile legends bang bang

news

This was the first-ever vote on a stand-alone cannabis bill – which is known as the Secure and Fair Enforcement (SAFE) Banking Act – and it ...   192.168.1.1 login

apps

I read your post and you explained in a detailed way. Thanks for sharing this here. Get more about Best Wahsing Machine in India details here.

This article on the SAFE

This article on the SAFE Banking Act is really informative. Cannabis is a psychoactive drug from the Cannabis plant utilized for medical or recreational desires private london bus tours . It has mental and physical effects, such as creating a high feeling, a usual change in attitude, an intensified state, and a rise in appetite. 

Ärzte, die aus dem Ausland

Ärzte, die aus dem Ausland nach Deutschland kommen und hier arbeiten und eine Patientenkommunikationstest vorbereiten möchten, klicken hier, um Ihre Prüfung vorzubereiten

Kronospoker Situs Judi

college homework help

College homework help is now easily available on SingaporeAssignmentHelp.com at cheap rate in limited time. Get limited college homework help and secure your grades in college.

I really enjoyed and pleased

I really enjoyed and pleased when reading your article dailymotion downloader

Great Article!

  1. protecting real estate owners leasing to legitimate cannabis-related businesses
  2. protecting insurers for providing financial services to legitimate businesses and investing income derived from the provision of those services  home inspection and repair services in sunshine coast
  3. allowing Federal Home Loan Banks to provide services to those depository institutions providing services to legitimate businesses or service providers, including holding an interest in collateral for a loan without the fear of prosecution or forfeiture of the legal interest 

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <i> <blockquote> <p> <address> <pre> <h1> <h2> <h3> <h4> <h5> <h6> <br> <b>

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

Drug War Issues

Criminal JusticeAsset Forfeiture, Collateral Sanctions (College Aid, Drug Taxes, Housing, Welfare), Court Rulings, Drug Courts, Due Process, Felony Disenfranchisement, Incarceration, Policing (2011 Drug War Killings, 2012 Drug War Killings, 2013 Drug War Killings, 2014 Drug War Killings, 2015 Drug War Killings, 2016 Drug War Killings, 2017 Drug War Killings, Arrests, Eradication, Informants, Interdiction, Lowest Priority Policies, Police Corruption, Police Raids, Profiling, Search and Seizure, SWAT/Paramilitarization, Task Forces, Undercover Work), Probation or Parole, Prosecution, Reentry/Rehabilitation, Sentencing (Alternatives to Incarceration, Clemency and Pardon, Crack/Powder Cocaine Disparity, Death Penalty, Decriminalization, Defelonization, Drug Free Zones, Mandatory Minimums, Rockefeller Drug Laws, Sentencing Guidelines)CultureArt, Celebrities, Counter-Culture, Music, Poetry/Literature, Television, TheaterDrug UseParaphernalia, ViolenceIntersecting IssuesCollateral Sanctions (College Aid, Drug Taxes, Housing, Welfare), Violence, Border, Budgets/Taxes/Economics, Business, Civil Rights, Driving, Economics, Education (College Aid), Employment, Environment, Families, Free Speech, Gun Policy, Human Rights, Immigration, Militarization, Money Laundering, Pregnancy, Privacy (Search and Seizure, Drug Testing), Race, Religion, Science, Sports, Women's IssuesMarijuana PolicyGateway Theory, Hemp, Marijuana -- Personal Use, Marijuana Industry, Medical MarijuanaMedicineMedical Marijuana, Science of Drugs, Under-treatment of PainPublic HealthAddiction, Addiction Treatment (Science of Drugs), Drug Education, Drug Prevention, Drug-Related AIDS/HIV or Hepatitis C, Harm Reduction (Methadone & Other Opiate Maintenance, Needle Exchange, Overdose Prevention, Pill Testing, Safer Injection Sites)Source and Transit CountriesAndean Drug War, Coca, Hashish, Mexican Drug War, Opium ProductionSpecific DrugsAlcohol, Ayahuasca, Cocaine (Crack Cocaine), Ecstasy, Heroin, Ibogaine, ketamine, Khat, Kratom, Marijuana (Gateway Theory, Marijuana -- Personal Use, Medical Marijuana, Hashish), Methamphetamine, New Synthetic Drugs (Synthetic Cannabinoids, Synthetic Stimulants), Nicotine, Prescription Opiates (Fentanyl, Oxycontin), Psilocybin / Magic Mushrooms, Psychedelics (LSD, Mescaline, Peyote, Salvia Divinorum)YouthGrade School, Post-Secondary School, Raves, Secondary School