Endorsing the SAFER Banking Act and Acknowledging the 2022 Resolutions Supporting the SAFE Banking Act

WHEREAS, The NAACP has steadfastly supported legislative changes to address the injustices of cannabis laws, particularly the disproportionate impact on African American communities, as highlighted in the 2022 resolution advocating for the decriminalization of cannabis and economic equity in the burgeoning cannabis industry; and 

WHEREAS, In 2022, the NAACP endorsed the Secure and Fair Enforcement (SAFE) Banking Act, recognizing its potential to significantly enhance access to essential banking services for cannabis businesses, especially those owned by African Americans and those holding social equity licenses; and 

WHEREAS, Despite receiving broad bipartisan support and passing the U.S. House of Representatives multiple times, the SAFE Banking Act has not yet become law, leaving many legitimate cannabis businesses without critical financial services; and 

WHEREAS, The SAFER Banking Act builds on the foundational goals of the SAFE Banking Act by providing additional safeguards and clarifications that ensure financial institutions can serve state-sanctioned marijuana businesses without the risk of federal penalties, thus promoting the safety, legitimacy, and inclusivity of the cannabis industry; and 

WHEREAS, The SAFER Banking Act, with its comprehensive scope and reinforced protections, is poised to address ongoing financial service challenges faced by cannabis businesses, aiding in their operations and competitiveness in a growing market; and 

WHEREAS, The NAACP acknowledges that the passage of the SAFER Banking Act would mark a significant advancement towards resolving banking issues within the cannabis industry and furthering social equity and economic participation for communities historically marginalized by discriminatory drug policies. 

THEREFORE, BE IT RESOLVED, that the NAACP reaffirms its 2022 resolution calling for greater economic opportunities for African Americans in the cannabis industry. 

BE IT FURTHER RESOLVED, that the NAACP supports the swift passage of the SAFER Banking Act as a vital enhancement to the SAFE Banking Act endorsed in 2022, acknowledging its potential to offer more extensive protections and broader access to financial services for cannabis businesses. 

BE IT FURTHER RESOLVED, that the NAACP continues to advocate for comprehensive cannabis reform at all governmental levels, stressing the necessity for legislation that not only decriminalizes cannabis but also ensures that the emerging cannabis industry is equitable, inclusive, and accessible to African Americans and other disproportionately impacted communities. 

BE IT FINALLY RESOLVED, that the NAACP commits to persistent advocacy for the removal of cannabis from the federal list of controlled substances, supports federal grants for states to implement social equity programs, and endorses legislative measures that provide remedies for individuals historically affected by cannabis prohibition.