Steven Schain of Smart-Counsel. Why the SAFE Banking Act Stinks for MRBs
Despite lessening criminal/administrative penalties and depository insurance obstacles, the SAFE Banking Act fails to put legal cannabis on equal footing with all other legitimate industries or make depository accounts and merchant services either available or affordable.
December 10, 2021 at 01:37 PM
10 minute read
Heralded by the cannabis industry as "divine absolution," the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) fails to provide legal marijuana growers, processors, transporters or sellers (marijuana-related businesses or MRBs) with the access to banking that every other legitimate industry enjoys.
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