Nothing that you don’t know already but we thought it was worth re-iterating before the Republicans try to decimated the SAFE provisions in the “HEROES” stimulus legislation going to the Senate.

 

The OC Register reports

California Attorney General Xavier Becerra is joining a bipartisan group of 34 attorneys general in urging Congress to approve a coronavirus relief package that would let marijuana businesses use traditional banking services.

The Democrat-controlled House on Friday, May 15, approved the idea of granting banking access to cannabis businesses as part of the $3 trillion HEROES Act, which would provide the biggest package of programs yet aimed at buffering the economic fallout of the coronavirus pandemic.

Banking services are out of reach for the cannabis industry, even in states where recreational use of the plant has been approved, because marijuana is illegal under federal law.

The idea isn’t popular in the GOP-controlled Senate, where Republican leaders have been blasting the HEROES Act in general and the cannabis banking provision in particular.

But Becerra and the other attorneys general around the country say the pandemic has heightened the need for safe transactions for cannabis business, which have been deemed essential and allowed to continue operating with varying restrictions in California and other states that have legalized marijuana.

Read full story at. https://www.ocregister.com/2020/05/20/california-joins-push-to-let-cannabis-businesses-use-banks-as-part-of-coronavirus-relief/