Origin House (fka ORHOF)

[Goodbuddy4863]

SAFE Banking Act Reintroduced in U.S. Senate:

https://www.cannabisbusinesstimes.com/article/safe-banking-act-reintroduced-us-senate/

“Forcing legal businesses to operate in all-cash is dangerous for our communities,” Merkley said in a public statement. “It’s absurd that cannabis business owners in Oregon have to shuttle around gym bags full of cash to take care of their taxes or pay their employees. Operating in cash is an invitation to robbery, money laundering and organized crime. This is a public safety issue, and I hope that this will be the Congress when we build a bipartisan consensus to put this common-sense fix into law."

The House version of the bill was introduced by Rep. Ed Perlmutter (D-CO) and a bipartisan group of 108 cosponsors. The legislation was approved by the House Financial Services Committee last month and currently has 165 cosponsors.

“Lack of access to financial services is creating public safety problems for the rapidly growing legal cannabis industry, as well as interfering with transparency and access to capital for small businesses,” said Aaron Smith, executive director of the National Cannabis Industry Association, in a public statement. “The Senate now has the opportunity to keep up the momentum that the SAFE Banking Act has in the House and address this important issue.”