GOP Sponsor of Cannabis Banking Bill Puts Advancement on Hold Until Fall Due to Other Priorities

Freshman Senator Bernie Moreno (R-OH) has taken the reins on the SAFER Banking Act, but don't hold your breath for a quick win. Despite the cannabis industry’s desperate need for financial normalcy, Moreno recently labeled the bill a "tomorrow thing," pushing potential discussions back to at least this fall. He claims Congress is too tied up with budget reconciliation to focus on the common-sense reform that would stop federal regulators from punishing banks for working with legal weed businesses.

This delay is a major buzzkill for a community that has watched this legislation pass the House multiple times, only to stall in the Senate. For regular tokers and local entrepreneurs, this matters because banking access is the backbone of a safe, professional industry. Without it, shops are forced to deal in cash, creating unnecessary safety risks and keeping prices higher due to banking hurdles. While political bigwigs play the waiting game, our community continues to deal with the "second tier" of prohibition. It's time for D.C. to stop stalling and treat our industry with the respect it deserves.