Senate Majority Leader Chuck Schumer recently stated that passing marijuana banking, the Secure and Fair Enforcement Regulation Banking Act (“SAFER”), remains a high priority. Recent news coverage indicates that SAFER may be traded and inserted into another must-pass piece of legislation at the last minute. After all, elections are coming, and the industries looking to profit most from the passage of SAFER are watching closely to determine who they will generously support for reelection.  

Those supporting SAFER state many reasons for the legislation, including promises of improved safety and more certainty for banks and financial institutions. Yet, there are glaring omissions in the bill’s language that don’t bode well for consumers or the public, particularly our nation’s children, who will pay the highest price.