NCIA: Future Of FDIC Easing for Cannabis Banking After Biden Decriminalizes Marijuana
Over the years, the simple possession or use of cannabis has seen many lives upended by arrests and criminal convictions. Unfairly, racial disparities have determined that black and brown individuals suffer most of these convictions, arrests, and prosecutions, even though white individuals use and possess cannabis at similar rates. The resulting criminal records lead to individuals being denied fundamental rights to employment, housing, and education opportunities.
However, on October 6, 2022, President Biden made an announcement that could change the cannabis and criminal clemency conversation. The president asserted he would:
- grant pardons to individuals with prior low-level federal cannabis possession offenses
- change federal cannabis laws by reviewing the cannabis Schedule I rule.
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We partnered with The National Cannabis Industry Association to promote our most recent piece of thought leadership.
