The USA is finally trying to sort out its relationship with cannabis businesses and banks. The big news is about this thing called the SAFER Banking Act. It’s like a peace treaty for banks and the weed biz, telling banks they can relax and work with cannabis companies without the feds causing drama. Because right now, even though lots of states are saying “yeah, cannabis is cool,” the feds still aren’t on board, and that makes banking a headache for cannabis businesses, as many of you already know.
SAFER Banking Act for Cannabis
Chuck Schumer, the guy leading the Senate, is really pushing for this. He’s got it on his list of “stuff we gotta get done,” along with things like making healthcare better and fixing up our infrastructure. The hope is that this SAFER Banking Act will make life easier for everyone in the cannabis game by letting them use banks like any other business.
So, the Senate’s banking squad gave the green light to move forward with this act, which is pretty sweet news for the cannabis world. It’s like finally getting an invite to the big party. This could mean that cannabis businesses get to do things like keep their money in banks safely and even get insurance. It’s a big deal because it could mean more stability and less sketchy vibes all around.
But here’s the catch – getting this thing across the finish line isn’t going to be a walk in the park. It needs thumbs up from both teams in Congress, and these days, they don’t always play nice together. Schumer knows it’s going to be tough, especially with the House being a bit unpredictable. But if they can get this act to pass, it might also bring in some extra goodies, like fixing up some criminal justice stuff and even sorting out issues around gun rights for people who use cannabis legally.
So yeah, everyone’s watching to see if this SAFER Banking Act can make it through the crazy obstacle course of Congress. It’s a big step toward getting the cannabis industry on solid ground, banking-wise. Fingers crossed it all works out!
In the meantime, Brother Processing has working solutions to help you navigate payment processing for your licensed dispensary. Give us a call and let’s talk about it:
1-800-891-8965
