This past week, legislators passed the SAFE banking act; the fifth time cannabis banking reform has been passed.
Said Representative Ed Perlmutter (Democrat-Colorado) “I think the fifth time is the charm…” referring to the SAFE banking act and the hopes that the legislation will remain part of the National Defense Authorization act in the House and the Senate, ultimately protecting financial institutions from repercussions from the federal government when dealing with cannabis.
On the heels of the SAFE Act passing, lawmakers announced on Friday September 24, they will consider a piece of legislation on Wednesday next week titled the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act which could federally legalize cannabis, and would remove cannabis from the Controlled Substances Act (CSA), even though President Biden is firmly opposed to adult-use marijuana legalization.”

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