Protected Banking Act Passes Congress | Why that is a excellent point and what’s subsequent


Earlier this year we blogged about why you can not invest in cannabis with a credit card in Massachusetts. Merely place, simply because cannabis is nevertheless a Class 1 controlled substance in the eyes of the federal government, huge banks can not extend credit to dispensaries like ours with out placing themselves at danger for criminal prosecution for “aiding and abetting”.

Think us when we inform you that we’re just about every bit as frustrated about this as you are. At Revolutionary Clinics, we got into the cannabis organization to assist individuals and enhance the high quality of their lives. Imposing restrictions on how our individuals spend for our merchandise is nothing at all we’d ever select to do. In that similar weblog post, we also shared some encouraging news about a bill that would address the banking situation and pave the way for the adjust we’ve been waiting for. That bill is referred to as the Safe and Fair Enforcement Banking Act or Protected.

We’re thrilled to report that in late September, the Protected Banking Act was unanimously passed in Congress by an overwhelming margin of 321 in favor to 103 against.

That is the excellent news.

The terrible news is, the Protected Banking Act nevertheless has to be authorized by the Senate. Though there is a fantastic deal of bi-partisan assistance for the passage of this bill, it is now at the mercy of the divisive political climate in Washington. Roughly translated, in spite of the truth that millions of Americans want cannabis to be 100% legal and the truth that Congress authorized the Protected Banking Act, there’s no assure it will pass in the Senate.

How can we swing the odds in our favor?

That is exactly where action is required from the whole cannabis neighborhood. The old adage about the squeaky wheel having the most grease is in particular correct in this case. We require as quite a few individuals, dispensaries, healthcare practitioners, advocacy groups, congress members and senators as probable to voice their assistance for The Protected Banking Act.

There are numerous approaches you can do this which we’ve laid out in order of the time and work expected on your aspect. If getting capable to spend for your cannabis with a credit card like you would any other medicine or dietary supplement is significant to you, PLEASE take a couple of minutes to take at least one particular of the actions under. You will not only really feel a sense of accomplishment that you have engaged in the democratic approach, you will be producing a really actual contribution to the future of cannabis accessibility and acceptance.

Total the very simple type at NORML’s (National Organization for the Reform of Marijuana Laws) and send an auto-populated type letter to your two state senators: five minutes or much less

It does not get significantly less difficult than this. CLICK Right here to fill out the type with your name, address and telephone quantity. Click the green “START WRITING” button and the letter under will automatically pop up in a new window:

I urge you to assistance the Safe and Fair Enforcement Banking Act (Protected Banking Act), HR 1595 / S. 1200, to let state-licensed marijuana-connected organizations to engage freely in relationships with banks and other monetary institutions.

Presently, a lot more than 30 states authorize the licensed production and dispensing of healthcare cannabis. Ten states permit comparable industrial activities and retail sales of marijuana to all adults. However, thousands of these licensed and regulated organizations do not have access to the banking market and are unable to accept credit cards, deposit revenues, or create checks to meet payroll or spend taxes. This predicament is untenable. No market can operate safely, transparently, or efficiently with out access to banks or other monetary institutions.

Congress have to move to adjust federal policy so that these expanding quantity of state-compliant organizations, and their shoppers, might operate in a manner that is comparable to other legal industrial entities.

Enabling tightly regulated marijuana organizations the capability to access the banking program will assist lessen the threat of crime, robbery, and assault in our communities and preserve the money out of cartels. I urge you to assistance and cosponsor The Protected Banking Act.

Hit send and the letter will automatically go to Senator Markey and Senator Warren – no copying and pasting and no emailing expected. If you’d like to create your personal letter, just highlight all the text, hit the delete button and make your personal case.

Send the hyperlink to the type you just filled out to your good friends! five minutes or much less

This is significant whether or not your good friends reside in Massachusetts or not. After they place in their address, NORML’s program will automatically send the type letter to your friends’ Senators. This is a nationwide situation so we require all the assistance we can get! To make it as uncomplicated as probable, we’ve even written a letter for you to copy and paste to your good friends:

As you know, cannabis has produced me a happier, healthier individual. The only issue is that due to federal banking laws, the only way I can legally spend for my healthcare marijuana is with money or my debit card. The Safe and Fair Enforcement Banking Act (Protected Banking Act) would make it probable for my regional dispensaries and dispensaries all more than the nation to accept credit cards from individuals like me.

I’ve currently filled out the very simple type at the hyperlink under and sent a letter to my state Senators. I’d genuinely appreciate it if you would do the similar. It requires much less than 5 minutes and will be a big assist to me!

Adhere to up with Senator Elizabeth Warren and Senator Ed Markey (15 minutes or much less)

Persistence is an crucial aspect of the political approach and the Protected Banking Act is no exception. As significant as it is for quite a few diverse individuals to voice their assistance for this bill, it is even a lot more significant for our senators to hear the message as frequently as probable. Share your personal experiences about how cannabis has helped you and getting capable to spend for it with your credit card will assist you even a lot more. The a lot more individual you can make your appeal, the improved!

CLICK Right here to e-mail Senator Markey

CLICK Right here to e-mail Senator Warren

E mail or get in touch with members of the Senate Banking, Housing and Urban Affairs Committee! 30 minutes or much less

Just after you have contacted your state senators, it is worth reaching out to the senators who are members of an influential committee that will be sharing its thoughts on the Protected Banking Act when it comes about for vote. Republican Senator Mike Chapo from Idaho is the Chairman of this committee and Democratic Senator Sherrod Brown is the Ranking Member. There are 25 other members of the committee whose names you can locate by CLICKING Right here and scrolling to the bottom of the web page. If you are feeling ambitious, you can Google their names for their e-mail addresses and copy and paste your message to every senator. You can also get in touch with (202) 224-7391 and leave a message.

With your assist, we can make paying for cannabis as easy as acquiring any other item you require to reside your finest life. If you have inquiries about something you have study in this weblog post or want to get even a lot more involved in cannabis advocacy, drop us a line employing the type on our web-site! We hope to hear from you quickly!




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