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Marijuana banking could pass this year with criminal expungement

Updated: Jul 12, 2022

Hello People, hope alls well. I really want to weigh-in on the Jan 6 findings. I’m going to chill on that for now. However if 10 people request my take on it via Cigalar’s chat room or text, I’ll make it our next blog after the third hearing.

Anyway I got some potential good news for our people and pretty much everyone else that hustled a little weed or a lot (Just keeping it real). Marijuana banking is on the ballot and it includes expunging criminal records for marijuana sales. This is a move in the right direction. I mentioned something like this in my blog about Snoop Dogg and his idea of looking out for those that have been released for marijuana sales back in the day. Now that marijuana banking may be introduced to the game,trrêyrda it will bring us that much closer to federal legalization. See the key word is “Banking”. Why you may ask? Did Banking means money and money is the greatest motivator in the world! If there's an avenue where those at the top can make some real money behind marijuana banking without getting their hands dirty! You better believe we’re only a few steps away! Now for those that will hopefully have their records expunged... well that’s the icing on the cake. This can help men and families that are stagnated by their criminal records to get a bit ahead.

It’s time to stop looking at the black/minority hustler as a common criminal and start to change the narrative. We as minority men and women are off that criminal aspect to make money... hell, I’m living proof. I’m a product developer, and a blogger now for crying out loud… me! There will always be a criminal element in any hood and the big white collar criminals in the suburbs. Honestly though, we’re more on entrepreneurism now, creating generational wealth, opening businesses, creating online apps and things like that. The music doesn’t influence our people like it used too. Young people are starting to see the bigger picture. I think we’ve finally opened our eyes and some of us are teaching each other a new way to get paid and stay off the cellblock. I urge my brothers and sisters to keep an eye on this marijuana banking thing and expunging your records. Its time we get involved in every way we can. Focusing on staying out of jail, raising your children in the home and educating them on financial literacy. If we can stay on that path use the internet for positive advancement and pass on the knowledge. We can look back and we can be the ones literally laughing all the way to the Bank! - Oz

Read this short article.

The passage of federal cannabis banking reform is considered possible this year, provided it’s combined wirth an existing marijuana expungement bill, according to published reports.

According to Politico, Senate Majority Leader Chuck Schumer recently had discussions with Ohio House Republican David Joyce about possibly combining the SAFE Banking Act with Joyce’s Harnessing Opportunities by Pursuing Expungement (HOPE) Act. The HOPE Act would direct funds to states for marijuana conviction-expungement efforts while SAFE Banking would enable financial institutions to provide traditional banking services to state-legal marijuana businesses.

Steve Hawkins, president and CEO of the U.S. Cannabis Council, told MJBizDaily earlier this year the HOPE Act might offer the criminal justice provisions that aren’t currently included in the SAFE Banking legislation but which are desired by Schumer and other progressives such as New Jersey Senator Cory Booker.

Saphira Galoob, principal and CEO of The Liaison Group, a cannabis lobbying firm in Washington DC, also discussed such a strategy with MJBizDaily as well as the need for incremental progress to maintain momentum for enacting federal marijuana reform.

Another positive sign for this strategy to advance is that progressive New York Democrat Alexandria Ocasio-Cortez introduced HOPE in the U.S. House of Representatives with Joyce.

Pablo Zuanic, an investment analyst with New York-based Cantor Fitzgerald, wrote in a research note Friday he sees the reported talks between Schumer and Joyce as significant because “it signals Sen Schumer (who pretty much alone holds the keys to passage of the SAFE banking reform bill) may be open to a reasonable and realistic compromise in passing SAFE.”

At the same time, Zuanic doubts the SAFE Banking bill will make it through to the final version of an American competitiveness legislation now being discussed in a House-Senate conference committee. The latest development, he wrote, indicates that Schumer, who had been pushing for his own comprehensive federal marijuana reform but has delayed its introduction, might consider the HOPE Act to be a sufficient compromise this year.

“We would have thought Sen. Schumer would want more than HOPE, but this may be a sign he is starting to feel the pressure/lobbying, and something could be passed this year,”


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