Tuesday, September 05, 2017 8:58:43 AM
by NORML
September 2, 2017
Comments
Marijuana ScienceCongressman Denny Heck (WA-10) with Representatives Perlmutter (CO-07), Lee (CA-13), and Titus (NV-01) have submitted two amendments to the financial services division to be included in the House appropriations bill. Both of these amendments focus on banking services for legal marijuana-related businesses and would be a temporary fix until the current legislation, the SAFE Banking Act, is passed into law.
The first amendment prohibits any funds in the bill from being used to punish banks for serving marijuana businesses that are legal under state law. The second amendment prohibits the Treasury from altering FinCEN’s guidance to financial institutions on providing banking services to legitimate marijuana businesses. These amendments, if included, would allow for legal marijuana-related business to operate according to state laws and enjoy access to the banking system.
Currently, hundreds of licensed and regulated businesses do not have access to the banking industry and are unable to accept credit cards, deposit revenues, or write checks to meet payroll or pay taxes. This situation is untenable. No industry can operate safely, transparently, or effectively without access to banks or other financial institutions.
Eight states and the District of Columbia have legalized adult use of marijuana and more than half the states have implemented medical marijuana laws, so it is both sensible and necessary to include these proposed amendments so that these growing number of state-compliant businesses, and their consumers, may operate in a manner that is similar to other legal commercial entities.
You can click here to send an email in support of the SAFE Banking Act to your federal elected officials now.
Posted in : ACTIVISM, Advocacy, Business, ECONOMICS, GOVERNMENT, Legalization, Policy
Add Your Comment
6 Responses to “Congressman Heck Introduces Marijuana Banking Amendments”
Cat48661 says:
September 2, 2017 at 2:13 pm
Thank you Congressman, for all that you’re trying to do! Whoever actually legalizes marijuana, will be a hero. Millions for states. Thousands of jobs, taxes for infrastructure and so many other things and of course jails will be freed up for real criminals. Opioids and booze are poison. Marijuana is a God given plant that helps millions of people. No addiction. No horrendous side effects, like pain Med’s.
Reply
Templewood says:
September 3, 2017 at 12:32 am
That’s my home representative.. :) Go Denny Go!
Reply
Mark Mitcham says:
September 3, 2017 at 8:26 am
I’m no fan of corporate America; it supports marijuana prohibition politically, and it personally abuses it’s employees with invasive and degrading urinalysis.
Marijuana legalization is a social justice issue. So, business banking practices are a non-issue to me, at best. We need to make a clear distinction between those who seek to make money, and those who seek to legalize marijuana for the good of the people of society.
Yet, I support the amendments; not for the sake of the dispensaries, but for the sake of the medical patients who depend on them. Many of these patients cannot navigate the black market, nor should they be expected to do so.
And, there is something to be said for basic fairness! Why not dispensaries? For as long a period as McDonald’s continues to be legal, dispensaries should have access to the same financial tools as any other business, if only from a public health perspective!
Signed and sent, thank you NORML…
Recent CEAD News
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 08/19/2024 08:03:34 PM
- CEA Industries Inc. Reports Second Quarter 2024 Results • GlobeNewswire Inc. • 08/14/2024 08:15:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:00:27 PM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 07/30/2024 10:05:38 PM
- CEA Industries Inc. Announces Reverse Stock Split to be Effective June 7, 2024; Publicly Traded Warrant Adjustment • GlobeNewswire Inc. • 06/04/2024 08:15:00 PM
- CEA Industries Inc. Reports First Quarter 2024 Results and Provides Update on Strategic Review Process • GlobeNewswire Inc. • 05/14/2024 08:50:00 PM
- CEA Industries Inc. Reports Fourth Quarter and Full Year 2023 Results • GlobeNewswire Inc. • 03/28/2024 08:10:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 01:05:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:04:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:04:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:04:53 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/18/2023 10:19:04 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 11/30/2023 09:00:22 PM
- CEA Industries Inc. Reports Third Quarter 2023 Results • GlobeNewswire Inc. • 11/14/2023 09:15:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/14/2023 09:00:54 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/31/2023 09:27:27 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/26/2023 08:26:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/13/2023 03:01:38 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 10/11/2023 06:45:32 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM