Two-thirds of polled banking customers say they support U.S. banks offering cannabis businesses the same standard services as any other client. The SAFE Banking Act of 2021, tabled in March 2021, “generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business,” notes information from the U.S. Congress. More specifically, when asked about cannabis businesses accessing traditional banking services, 40 per cent of individuals strongly supported such as move, 25 per cent somewhat supported, seven per cent somewhat opposed and eight per cent strongly opposed. Of those U.S. adults surveyed, the same poll showed that 31 per cent of respondents would support the legalization of medical use only. But banking customers don’t seem to understand what’s taking so long.
Two-thirds of polled banking customers say they support U.S. banks offering cannabis businesses the same standard services as any other client.
The SAFE Banking Act of 2021, tabled in March 2021, “generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business,” notes information from the U.S. Congress.
Without the protections being in place, “owners of marijuana dispensaries encounter major roadblocks when it comes to banking or financing...
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