A majority of American voters support allowing banks to work with state-legal cannabis businesses, according to a new poll. And most people believe it will both improve public safety and promote social equity.
The survey from Independent Community Bankers of America (ICBA), which was conducted by Morning Consult, found that 65 percent of voters back the modest cannabis reform, which would be achieved with the bipartisan Secure and Fair Enforcement (SAFE) Banking Act that’s passed the House in some form seven times but has continually stalled in the Senate.
There was majority support for banking reform across the political spectrum, with 73 percent of Democrats, 55 percent of Republicans, and 67 percent of independents backing the policy change.
Respondents also shared their perspectives on the practical implications of the legislation outside of safeguarding banks that service the industry. Seventy-one percent said that giving cannabis businesses access to the financial system would reduce the unique risks of robberies and violent crime targeting the cash-intensive market.
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