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US: New campaign launched to back cannabis banking reform

A coalition of cannabis advocacy groups has launched a campaign meant to promote education about the need for cannabis banking reform, highlighting what they see as the social and economic equity advantages of freeing up businesses in the industry to access traditional financial services.

Marijuana Matters, Minority Cannabis Business Association (MCBA), Minorities for Medical Marijuana (M4MM), and Women Grow have teamed up to create the “SAFE4Equity” campaign, which is meant to push for the expedient passage of the bipartisan Secure and Fair Enforcement (SAFE) Banking Act in Congress.

They want to see that legislation, sponsored by Rep. Ed Perlmutter (D-CO), enacted as part of a large-scale manufacturing bill that’s currently being negotiated as part of a bicameral conference committee.

While some advocates have criticized moving ahead with banking reform before comprehensive legalization is enacted, making the case that the incremental reform would principally serve deep-pocketed, mostly white-owned corporations and banks themselves, the coalition is contesting that narrative with the new campaign.

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