Advocates must continue to push for modest but meaningful changes to a bipartisan marijuana banking bill in order to maximize its social equity impacts, a former top Los Angeles cannabis regulator says in a new research paper that outlines recommended revisions.
The analysis from Cat Packer, who serves as vice chair of the Cannabis Regulators of Color Coalition (CRCC) and director of drug markets and legal regulation at the Drug Policy Alliance (DPA), comes as Senate leaders plan action for the Secure and Fair Enforcement (SAFE) Banking Act within the next several weeks of the current work session.
Packer says the “F” in SAFE can’t be compromised. Fairness should be a central tenet of the reform, and while advocates have helped secure “minor but meaningful changes” to the legislation this session as compared to the version filed last Congress, she argues that more can be done.
“Despite ongoing debate over the implications of passing protections for financial institutions before adopting more comprehensive and impactful cannabis reforms, a growing number of advocates and policymakers are taking the position that if lawmakers are prioritizing cannabis banking, the reform—like every other cannabis policy issue—can and should be equity-centered,” she wrote.
“While many in
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