Bankers Urge House And Senate To Pass SAFER Banking
In today’s Trade To Black podcast presented by Flowhub, Shadd Dales and Anthony Varrell react to fresh movement out of Washington after the American Bankers Association sent a letter to House and Senate leaders urging them to pass SAFER Banking. We’ve seen letters like this before, but this one lands at a moment where the cannabis industry is on the cusp of major reform with the ongoing ALJ hearing and everything else happening federally.
In addition to the move from the Bankers Association on SAFER, the hosts addressed recent public sparring with Dwayne Boise of MMJ International, who has criticized the hearing process on social media and is party to litigation challenging medical rescheduling. Dales and Varrell disagreed with his assessment, and they’ll explain why. Talk also turned to speculation about a possible White House executive order forming a de-scheduling commission, which the hosts noted could reportedly land as early as August, ahead of the November midterms.
In the interview with Hirsch Jain, founder of Ananda Strategy, he and the hosts examined the emerging “Southern corridor” of cannabis markets. Virginia just passed adult‑use cannabis. Georgia is expanding its medical market. Texas is quietly positioned for growth with patient numbers climbing and lawmakers signaling openness to broader reform. Louisiana continues to run one of the strongest medical programs in the region. And Arkansas — surprisingly — has more cannabis users per capita than Florida, which says a lot about how engaged that market already is.
We also cover the Supreme Court’s unanimous ruling on cannabis users and gun rights. Jain connected recent Supreme Court gun-rights jurisprudence to potential growth in medical cannabis registration, arguing that as courts move from restricting rights based on cannabis “status” to focusing on actual conduct, more patients — particularly gun owners — may feel safer registering.
Lastly, we have a critical look at New York’s enforcement lapses against illicit dispensaries. Also, is there optimism that the DEA’s proponent stance in the ALJ hearing signals continued momentum toward rescheduling? Hear our thoughts.
