#SAFE Can't Wait: It's time we have the discussion
Indiva Advisors is so excited for this upcoming event:
The Minority Cannabis Business Association is partnering with Marijuana Matters, Women Grow, and Minorities for Medical Marijuana to ensure that there is equitable access to capital and banking services for small, minority- and women-owned cannabis businesses. Please join us for a Town Hall on Tuesday, October 18th at 7:30pm EST to discuss the importance of passing the SAFE Banking Act now.
The SAFE Banking Act seeks to harmonize federal and state law by prohibiting federal regulators from taking punitive measures against depository institutions that provide banking services to regulated cannabis businesses and the ancillary businesses which serve them (e.g. electricians, plumbers, landlords, etc.). The bill establishes a safe harbor for any depository institution that chooses to provide banking services to regulated cannabis related businesses that holds and maintains a license from a state or local government to engage in manufacturing, growing or producing, as well as any business which handles, sells, transports, displays or distributes cannabis or cannabis products.
Without bank accounts, stakeholders in every jurisdiction with equity programs cannot effectively use state-based grant and loan funds.
In addition, operators who are lucky enough to have bank accounts are subject to crippling fees—sometimes thousands of dollars a month. SAFE Banking means more banks will do business with cannabis companies. And more competition amongst banks means that businesses will not be beholden to the exorbitant maintenance fees that can exceed $8000 per month in some cases.
The need to reform our national cannabis laws has only grown more urgent over the past decade with increasing momentum in recent years for Congress to address the issue with both incremental and comprehensive approaches.
We agree that while comprehensive reform is needed and that inequity must be addressed, we must prioritize policy that is plausible to pass and to lose an opportunity to advance reform now. We must make progress on what we can, as we can. This does not detract from our more lofty goals.
Register for the event here --> https://bit.ly/3MlR3xM
Marijuana Matters is a social enterprise working at the nexus of community, industry and government. Our mission is to create pathways out of poverty for those most harmed by the war on drugs through advocacy, education and entrepreneurship. Please visit our website to learn more about our mission and support our work.
Minority Cannabis Business Association
Founded in 2015, the Minority Cannabis Business Association (MCBA) is the largest national trade association dedicated to serving the needs of minority cannabis businesses and our communities. MCBA represents more than 300 minority and allied cannabis businesses and industry and community leaders who share a vision for an equitable, just, and responsible cannabis industry. Our mission is carried out by a 15-member Board of Directors composed of a diverse group of industry veterans, medical and legal professionals, advocates and community leaders. Learn more by visiting our website.
Minorities for Medical Marijuana (M4MM)
Minorities for Medical Marijuana is a National 501c3 nonprofit organization located in Orlando. Florida. M4MM is focused on providing outreach, training, education, and resources to communities of color. Project Clean Slate is our Social justice program focused on providing free no charge expungement clinic opportunities for minority communities. Specifically, they believe the new legalized cannabis industry gives us an opportunity to repair the harm communities of color suffered during the “war on drugs era.” Erasing individuals marijuana arrests and convictions is our #1 priority. In addition, all participants who go through their expungement clinic will receive complimentary wrap-around services for 6 months afterwards to help navigate through social service supportive services offered in their respective town.
Women Grow connects, educates, inspires, and empowers the next generation of industry leaders. In addition, Women Grow creates programs, a community, and events for aspiring and current women in business. Founded in 2014 in Denver, CO, Women Grow serves as a catalyst for women to succeed in an emerging industry. Follow Women Grow on Facebook, Instagram, LinkedIn, Twitter, and YouTube @womengrow.