The SAFE Banking Act is a bill that would allow marijuana businesses to use federal banks without the worry of federal regulators striking down on them. This bill would be huge for the cannabis industry in the United States. It would not only create a safer environment for cannabis businesses; it would also continue to boost our economy. We have not heard much lately about the act, but supporters work diligently behind the scenes.
In September of this year, the bill made it past the United States House of Representatives, making it the first piece of cannabis reform legislation pass through. Since then, things have simmered down until Sen. Crapo released a statement this week opposing the bill. His concerns consisted of Marketing towards teens, use of banks by cartels, and lack of study on marijuana.
Behind the scenes, supporters of the bill have written letters and sent them to Sen. Crapo, urging him to advance the bill. The NCIA; has gathered thousands of signatures in these letters to show the senator just how many people support the bill. At this point, all we can do is write in ourselves and wait on the Senators decision. Hopefully, he will decide to pass it and be the one to help create a safer industry.