Marijuana Banking: SAFE Banking Act is Dead on Arrival. Again.

The hopes for better and increased marijuana banking, which were tied up in the Secure and Fair Enforcement (SAFE) Banking Act (a serious and common sense federal marijuana banking bill), are currently dashed since the SAFE Banking Act has been left out of the Senate’s changes to the National Defense Authorization Act (“NDAA“). The impact? Licensed businesses are left hanging high and dry (again) when it comes to marijuana banking.

Despite the fact that this bipartisan piece of legislation passed the House no less than five times over the past three years, the Senate just isn’t having it. And it’s not necessarily your usual suspects in the GOP that are among resisters. It’s actually a set of powerful democrats (looking at you Senate Majority Leader Chuck Schumer and Senator Cory Booker) who insist that we can’t pass piecemeal federal cannabis reform because it will lessen the pressure on Congress to legalize/decriminalize cannabis in a bigger, broader sweeping bill.

To that position, all I can really do is shake my head. Especially given that these Democratic politicians have touted cannabis legalization, reform, and progress for sometime now. It’s pretty clear that everything we’ve heard is just routine lip service to constituents

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