Investors Hangout Stock Message Boards Logo
  • Mailbox
  • Favorites
  • Boards
    • The Hangout
    • NASDAQ
    • NYSE
    • OTC Markets
    • All Boards
  • Whats Hot!
    • Recent Activity
    • Most Viewed Boards
    • Most Viewed Posts
    • Most Posted
    • Most Followed
    • Top Boards
    • Newest Boards
    • Newest Members
  • Blog
    • Recent Blog Posts
    • Recently Updated
    • News
    • Stocks
    • Crypto
    • Investing
    • Business
    • Markets
    • Economy
    • Real Estate
    • Personal Finance
  • Market Movers
  • Interactive Charts
  • Login - Join Now FREE!
  1. Home ›
  2. Stock Message Boards ›
  3. Stock Boards ›
  4. Red White & Bloom Brands Inc. (RWBYF) Message Board

420 with CNW — ABA Poll Shows Americans Want SAF

Message Board Public Reply | Private Reply | Keep | Replies (0)                   Post New Msg
Edit Msg () | Previous | Next


Post# of 176
(Total Views: 245)
Posted On: 03/17/2022 4:33:25 PM
Avatar
Posted By: NetworkNewsWire
420 with CNW — ABA Poll Shows Americans Want SAFE Banking Act Passed

A recent survey released by the American Bankers Association has found that almost 70% of Americans are in favor of allowing financial institutions to work with cannabis businesses without the threat of being penalized. The poll, which was conducted by Morning Consult, interviewed more than 2,000 adults between February 18–19, 2022.

The survey asked respondents a pair of questions on cannabis banking. The first asked respondents whether they support or oppose allowing cannabis businesses to “access traditional banking services, like a checking account or business loan, in states where cannabis is now legal.” The poll found that 65% were in favor of this, with only 15% opposing it. The second question asked respondents whether Congress needed to pass a bill that would accomplish this reform, with 68% indicating that legislators did need to approve the measure.

The bipartisan measure in question, the Secure and Fair Enforcement (“SAFE”) Banking Act, would offer protections to banks that worked with state-legal cannabis businesses. This bill has been approved in some form in the House half a dozen times. However, it has yet to be passed in the Senate.

In a press release, Rob Nichols, the CEO of the American Bankers Association, highlighted that consumers agreed that the time had come to allow banks to serve legal marijuana and marijuana-related businesses. Nichols noted that this measure would help banks meet communities’ needs while also improving the financial transparency of the growing marijuana industry, increasing tax collection efficiency and increasing public safety.

The American Bankers Association was one of several insurance, financial and labor groups that called on Congress to approve the cannabis banking reform as part of a large-scale defense legislation last year. The bill’s language was successfully attached to the defense measure by the banking bill’s sponsor, Rep. Ed Perlmutter. However, the language was scraped off later during bicameral negotiations.

This may change now, after Senate Majority Leader Chuck Schumer, who has been an obstacle to the banking measure’s approval in the Senate, revealed that approving the bill was a possibility if some equity provisions were included. Soon after this, Perlmutter stated that he was open to revisions, noting that he was confident that the Senate would take up his measure before he went into retirement at the end of this session.

Many hope that the banking measure will soon be approved, as the number of banks working with legal cannabis businesses increases. As the relationship between mainstream banks and licensed marijuana companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) is allowed under federal law, we are likely to see the industry grow at a faster rate since companies will have access to needed services, including bank loans to fund their growth.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer





(0)
(0)




Red White & Bloom Brands Inc. (RWBYF) Stock Research Links


  1.  
  2.  


  3.  
  4.  
  5.  






Investors Hangout

Home

Mailbox

Message Boards

Favorites

Whats Hot

Blog

Settings

Privacy Policy

Terms and Conditions

Disclaimer

Contact Us

Whats Hot

Recent Activity

Most Viewed Boards

Most Viewed Posts

Most Posted Boards

Most Followed

Top Boards

Newest Boards

Newest Members

Investors Hangout Message Boards

Welcome To Investors Hangout

Stock Message Boards

American Stock Exchange (AMEX)

NASDAQ Stock Exchange (NASDAQ)

New York Stock Exchange (NYSE)

Penny Stocks - (OTC)

User Boards

The Hangout

Private

Global Markets

Australian Securities Exchange (ASX)

Euronext Amsterdam (AMS)

Euronext Brussels (BRU)

Euronext Lisbon (LIS)

Euronext Paris (PAR)

Foreign Exchange (FOREX)

Hong Kong Stock Exchange (HKEX)

London Stock Exchange (LSE)

Milan Stock Exchange (MLSE)

New Zealand Exchange (NZX)

Singapore Stock Exchange (SGX)

Toronto Stock Exchange (TSX)

Contact Investors Hangout

Email Us

Follow Investors Hangout

Twitter

YouTube

Facebook

Market Data powered by QuoteMedia. Copyright © 2025. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges).
Analyst Ratings & Earnings by Zacks. RT=Real-Time, EOD=End of Day, PD=Previous Day. Terms of Use.

© 2025 Copyright Investors Hangout, LLC All Rights Reserved.

Privacy Policy |Do Not Sell My Information | Terms & Conditions | Disclaimer | Help | Contact Us