Tell Congress: Cannabis-based businesses should be allowed to bank safely

The petition to Congress reads: "Allow safe banking for America’s state-legal marijuana industry."


Unless you rely on cannabis for medicinal reasons or enjoy it recreationally, you might not know that you can't simply walk into a dispensary and put your purchase on your credit or debit card. In fact, it is nearly impossible to pay for marijuana with anything but cash. That's because even though marijuana is fully legal in 16 states — and its use is permitted medicinally in 36 — marijuana businesses cannot use traditional banks.

Currently, banks refuse to work with these companies for fear of running afoul of federal law, which still considers cannabis to be illegal. With sales in the marijuana industry at $17.5 billion in 2020 — and expected to more than double by 2026 — that leaves billions of dollars unbanked and thousands of dispensaries and their employees at risk of deadly robberies and other crimes.

That's where the Secure and Fair Enforcement Banking Act (SAFE Banking Act) comes in. The bill would bridge the gap between what is currently law and what is an immediate necessity – allowing state-legal, unbanked marijuana businesses like Trulieve to safely store their cash in America's financial system.

Sign Trulieve's petition urging the Senate to pass the SAFE Banking Act.

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