Business

D.C. AG Racine Leads 38-State Coalition in Support of Marijuana Banking Bill

WASHINGTON INFORMER — An effort aimed at bringing billions of dollars of existing cash transactions into the regulated banking sector has resulted in a coalition of 38 attorneys general who are urging Congress to pass the Secure and Fair Enforcement Banking Act, or SAFE Banking Act, to allow legal marijuana-related businesses to access the banking system.

Published

6 years ago

May 22, 2019

Oakland Post

By WI Web Staff

An effort aimed at bringing billions of dollars of existing cash transactions into the regulated banking sector has resulted in a coalition of 38 attorneys general who are urging Congress to pass the Secure and Fair Enforcement Banking Act, or SAFE Banking Act, to allow legal marijuana-related businesses to access the banking system.

In addition to providing oversight of such businesses, the legislation — which would give banks permission to do business with the cannabis industry without fear of federal prosecution — would reduce the risk of both violent and white-collar crime affecting the marijuana industry.

“Our bipartisan coalition is urging Congress to pass the SAFE Banking Act to prevent criminal activity and increase oversight of the legal marijuana industry that already exists in 33 states,” said D.C. Attorney General Karl Racine, who has spearheaded the coalition. “This necessary modification would increase transparency in the flourishing legal marijuana industry while deterring the spreading criminal activity that has developed in the absence of such supervision. And, once Congress passes the SAFE Banking Act, I urge them to remove obstacles to the District of Columbia regulating its own marijuana industry.”

The coalition of states and territories, also led by Colorado AG Phil Weiser, Nevada AG Aaron Ford and North Dakota AG Wayne Stenehjem, include Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Guam, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, New Jersey, New Mexico, New York, the Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, the U.S. Virgin Islands, Utah, Vermont, Virginia, Washington, West Virginia and Wisconsin.

Although 33 states and several U.S. territories have legalized medical marijuana, current federal law prevents banks from providing services to these state-regulated businesses.

The SAFE Banking Act would permit marijuana-related businesses in states and territories.

Racine, along with D.C. Council member David Grosso, recently published an op-ed in The Washington Post urging Congress to allow the District to determine for itself how to regulate marijuana.

This article originally appeared in the Washington Informer.

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Oakland Post: Week of December 18 – 24, 2024

The printed Weekly Edition of the Oakland Post: Week of December 18 – 24, 2024

Published

1 day ago

December 20, 2024

Oakland Post

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BWOPA Honors Black Leadership and Legacy at 2024 Ella Hill Hutch Awards Dinner

On Dec. 5, BWOPA held its Annual Ella Hill Hutch Awards Ceremony, at the Fairmont Claremont Hotel in the Oakland/Berkeley Hills. At the event, the group comprised of Black women from various professional backgrounds, honored distinguished local and state leaders whose contributions have shaped civic engagement and advanced critical social issues impacting Black communities.

Published

4 days ago

December 18, 2024

Oakland Post

L-R: BWOPA State Executive Director LaNiece Jones; State Asm. Mia Bonta; BWOPA 2024 Man of The Year/Urban League SFBA CEO Ken Maxey; BWOPA State President Hon. Dezie Woods-Jones; State Senator Lola Smallwood-Cuevas; Rowena Brown, Oakland Councilmember At-Large, Elect; BWOPA State Regional Director Vashone Huff. Courtesy photo.

By Oakland Post Staff

Black Women Organized for Political Action (BWOPA) is a statewide non-profit advocacy and membership organization committed to solving problems affecting Black Californians.

On Dec. 5, BWOPA held its Annual Ella Hill Hutch Awards Ceremony, at the Fairmont Claremont Hotel in the Oakland/Berkeley Hills.

At the event, the group comprised of Black women from various professional backgrounds, honored distinguished local and state leaders whose contributions have shaped civic engagement and advanced critical social issues impacting Black communities.

The evening was hosted by Dr. Shawna Charles, founder of The Charles Communications Group (CCG) headquartered in Los Angeles. Charles served as mistress of ceremonies.

With a track record of elevating voices and empowering communities, Charles’ leadership and insight brought a certain dynamism to the celebration.

“Each year, this event not only celebrates the enduring legacy of our beloved BWOPA founding member, Ella Hill Hutch, but also reaffirms and amplifies our unwavering commitment to building and sustaining Black political power across California,” said Dezie Woods-Jones, BWOPA founding member and State president.

“Ella Hill Hutch’s trailblazing leadership continues to inspire us as we forge ahead, empowering Black women to lead, advocate, and shape a more equitable future for all,” added Woods-Jones.

This year’s event introduced the DWJ Rising Star Award, honoring young leaders like Solano County Board Supervisors-elect Cassandra James, Danielle Motley-Lewis, Naomi Waters and newly elected State Assemblymember elect Rhodesia Ransom (D-Stockton).

According to organizers, the awardees all exemplify “the next generation of changemakers.”

Other awardees included:

Lifetime Achievement Awardees: Congresswoman Barbara Lee (D-CA-12) and Alameda County Supervisor Keith Carson
Man of the Year: Kenneth Maxey, CEO of the Greater SF Bay Area Urban League
President’s Corporate Award: Yvette Radford, Kaiser Permanente
In the Spirit of Ella State and Chapter Awards: Dr. Carolyn Greene, Dr. Marcella K. Smith, Dr. Carolyn Drake, Tinisch Hollins, Jackie Jones, Gloria Burgess Johnson, Tamika L’Ecluse, Ellen Nash, Betty Reid Soskin, and Ay’Anna Moody.

BWOPA also celebrated local champions across its chapters, including leaders in voter education, healthcare, criminal justice reform, and community advocacy.

In a statement, BWOPA said, “Honoring Ella Hill Hutch’s legacy, BWOPA recognizes her pioneering efforts as the first Black woman elected to the San Francisco Board of Supervisors. Her tireless work amplifying underrepresented voices continues to inspire BWOPA’s mission to build Black political power across California.”

“We extend our heartfelt thanks to our members, partners and allies who believe in BWOPA’s vision to invest in building power for Black women’s leadership,” said LaNiece Jones, BWOPA State executive director. “Your support ensures that Black women have a voice at decision-making tables locally, regionally, statewide, and nationally, advancing diversity and equity in leadership spaces.”