Two weeks ago, the push for Congressional action on cannabis banking reform heated up as members of the National Cannabis Business Association descended on Congress for four days of lobby meetings. Meetings were held over Zoom, as many Congressional offices maintain pandemic protocols that prohibit in person meetings.
Longtime Om of Medicine owner Mark Passerini displays all of the bank cards the business has gone … [+]
While members of Congress have heard plenty from lobbyists and interest groups on this issue over the past few years, meetings like these are critical as they are the rare occasions for representatives to hear directly from the businesses most impacted by the lack of access to traditional banking services. As the chair of the association, I was able to participate in most of these meeting personally, and came away feeling optimistic that reform can be achieved before the end of the legislative session.
“Financial issues like SAFE can sometimes feel abstract to those outside the industry, which is why we’ve been doing so many meetings on the subject at this crucial moment” explained NCIA Board Secretary Michael Cooper. “There’s just something inherently impactful about talking to the NCIA member whose dispensary was robbed or hearing about the stress a small business owner feels trying to decide if they have the cashflow to…
